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| 1Q10 | BBVA Group highlights | Group information | Risk and economic capital management | Business areas | Corporate responsibility |
Quality Funds. The unit has solutions tailored for each
customer segment, based on constant product
innovation as the key to success. In this regard, two
new funds were launched in the first quarter: BBVA
Bonos Corporativos Flotantes (short-term fixed-income
funds) and BBVA Mixto Conservador (international
mixed fixed-income funds).
The unit recorded first quarter revenues of €41m, with
a 23.9% increase on the same period in 2009.
At the end of the first quarter total assets under
management in Spain stood at €49,299m, a decline of
1.8% against the close of the first quarter of 2009. Of
this amount, mutual funds account for €31,868m. The
Group ended the quarter as the leader in the Spanish
market with an 18.9% market share. In the last three
months, the weighted average return on its funds was
greater than that of the system and also that of the top
seven managers (representing 61.5%). By net return,
more than 64% of BBVA’s Asset Management’s mutual
funds (excluding guaranteed funds) are in the first two
quartiles (assigned by net returns).
The assets under management in pensions funds in
Spain were up 9.8% year-on-year to €17,431m. Of this
amount, individual plans account for €10,182m and
employee and associate schemes, €7,249m. BBVA
continues to lead in the whole of pension plans, with a
market share of 18.6%. BBVA holds a market share of
22.7% in employee schemes and 16.5% in
individual plans (Source: Inverco, data from December
2009).
Spain and Portugal
Mexico
South America
The United States
Wholesale Banking & Asset Management
Corporate Activities
Industrial and Real Estate Holdings diversifies the area,
by developing long maturing projects in order to create
value at the medium and long-term through the active
management of the portfolio of industrial and property
projects unit’s equity holdings (Duch and Anida
Internacional). No relevant transactions have been
carried out in the first quarter of 2010.
In Asia, the purchase option to extend its holding of
CNCB by 5% became effective on April 1, 2010, and
the effects of its impact will begin to be felt in the
earnings from the second quarter of this year.
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