Lloyd Fonds : Geschäftsbericht 2021 - EN

Hamburg

Frankfurt

Munich

Annual Report 2021

,

	2021	2020	2019
Assets under Management*	2,2	1,7	1,1
LLOYD FONDS LIQUID ASSETS (EUR billion)
Group figures*
EUR million
Sales (gross)	26,1	27,7	8,2
EBITDA	4,6	7,0	-9,7
Net profit after tax**	6,6	1,0	-0,1
Net operating cash flows	20,0	-0,9	-3,2
Total assets	116,9	113,7	104,8
Equity	48,4	42,7	41,2
Equity ratio (%)	41,3	37,6	39,3
Headcount (as of Dec. 31) ***	80	69	68

Percentages based on figures expressed as EUR 000s

• Excluding the two acquisitions BV Holding AG and growney GmbH ** Before non-controlling interests
  *** Including Lange Assets & Consulting GmbH

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Lloyd Fonds AG

Our aspiration:

Next-generation assets

Lloyd Fonds AG is an innovative financial services provider that generates returns for its partners and customers with active, sustainable and digital investment solutions.

Established in 1995, the bank-independent company has been listed on the stock exchange since 2005. Lloyd Fonds AG has been included in Deutsche Börse's "Scale" segment in Frankfurt (ISIN: DE000A12UP29) since March 2017.

NEXT-GENERATION ASSETS

					LLOYD WEALTH
	Active. Added. Value.			Individual. Added. Value.
	Active fund management/			Personal asset management/
	special mandates			special mandates

BV Holding AG *

Licensed in accordance with Section	Licensed in accordance with Section
15 of the Securities Institution Act**	15 of the Securities Institution Act***

LLOYD DIGITAL

Digital. Added. Value.

Smart investing

LAIC	growney
AI-based investment	simple investment
solutions for all risk classes	solutions for all
	customers

Licensed in accordance with Section 15 of the Securities Institution Act****

* Completion of the owner control process confirmed by BaFin in a letter dated March 15, 2022. The closing of the acquisition is subject to further conditions.

** SPSW Capital GmbH *** Lange Assets & Consulting GmbH, BV Bayrische Vermögen GmbH, MFI Asset Management GmbH **** LAIC Vermögensverwaltung GmbH, growney GmbH.

The LLOYD FONDS business segment is positioned as a specialist provider of non-benchmarked equity, fixed-income and mixed funds with a clear focus on active alpha strategies. All funds are managed by experienced specialists with a proven track record and incorporate an integrated sustainability strategy in the investment process.

The LLOYD WEALTH business segment is committed to the pro- active, holistic 360° implementation of the individual goals of high net-worth clients by means of personal asset management.

The LLOYD WEALTH business segment is committed to the pro- active, holistic 360° implementation of the individual goals of high net-worth clients by means of personal asset management.

The LLOYD DIGITAL business segment offers digital and risk-optimized investment solutions for private investors and institutional clients via WealthTech LAIC and FinTech growney.

The aim of Strategy 2023/25 is to position Lloyd Fonds AG as an innovative quality leader in asset management in Germany.

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Contents

Company		Group management report
--------------------------------------	--------------------------------------	--------------------------------------
Management Board	8	1 Fundamental information		4 Employee and
--------------------------------------	on the Group	36	compensation report	51
Foreword by the Management Board	10	--------------------------------------	--------------------------------------
--------------------------------------	1.1 Business activities	36	5 Risk report	52
Supervisory Board	12	--------------------------------------	--------------------------------------
--------------------------------------	1.2 Organization and		5.1 Risk management system	52
Report of the Supervisory Board	14	governance structure	36	--------------------------------------
--------------------------------------	--------------------------------------	5.2 Economic and sector risks	52
Corporate governance	18	1.3 Legal structure	36	--------------------------------------
--------------------------------------	--------------------------------------	5.3 Operating and strategic risks	53
Lloyd Fonds share	19	1.4 Planning and management		--------------------------------------
--------------------------------------	process systems	38	5.4 Organization and personnel
Digitalization	21	--------------------------------------	management risks	58
--------------------------------------	2 Business report	39	--------------------------------------
User centricity	24	--------------------------------------	5.5 IT risks	58
--------------------------------------	2.1 Macroeconomic and sector		--------------------------------------
Sustainability	26	environment	39	5.6 Financial risks	58
--------------------------------------	--------------------------------------	--------------------------------------
LLOYD FONDS	28	2.2 Business performance and		5.7 Overall assessment of risk situation	59
--------------------------------------	economic situation	40	--------------------------------------
LLOYD WEALTH	30	--------------------------------------	5.8 Main characteristics of the
--------------------------------------	2.3 Target achievement and general		accounting-related internal control and
LLOYD DIGITAL	32	statement on economic situation	44	risk management system	60
--------------------------------------	--------------------------------------	--------------------------------------
		3 Results of operations, net assets		6 Material events occurring after
		and financial condition	46	the reporting date	62
		--------------------------------------	--------------------------------------
		3.1 Results of operations	46	7 Outlook	63
		--------------------------------------	--------------------------------------
		3.2 Net assets	48	7.1 Macroeconomic and sector
		--------------------------------------	environment	63
		3.3 Financial condition	49	--------------------------------------
		--------------------------------------	7.2 Business performance	64
				--------------------------------------
				7.3 Opportunities	65
				--------------------------------------

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Consolidated financial statements

--------------------------------------	--------------------------------------
1 Consolidated income statement	70	6 Notes to the consolidated
--------------------------------------	financial statements	75
2 Consolidated statement of		--------------------------------------
comprehensive income	71	6.1 General information	75
--------------------------------------	--------------------------------------
3 Consolidated balance sheet	72	6.2 Summary of significant
--------------------------------------	accounting policies	75
4 Consolidated cash flow statement	73	--------------------------------------
--------------------------------------	6.3 Financial risk management	86
5 Consolidated statement of		--------------------------------------
changes in equity	74	6.4 Use of estimates and assumptions
--------------------------------------	and changes to estimates and
		discretionary decisions	90
		--------------------------------------
		6.5 Segment report	91
		--------------------------------------
		6.6 Notes on the consolidated income
		statement	95
		--------------------------------------
		6.7 Notes on the consolidated
		balance sheet	97
		--------------------------------------
		6.8 Notes on the consolidated cash
		flow statement	104
		--------------------------------------
		6.9 Other disclosures	105
		--------------------------------------
		7 Responsibility statement	109
		--------------------------------------
		8 Independent auditor's opinion	110
		--------------------------------------
		9 Financial calendar	114
		--------------------------------------

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