(Alliance News) - The board of directors of Solutions Capital Management SIM Spa on Monday reviewed the management results as of March 31, reporting net commission income up 33 percent from last year, following good performance in asset management and the conclusion of some generic advisory contracts.

Specifically, commission income, at approximately EUR1.7 million, showed a 30 percent increase over last year, amounting to nearly EUR400,000, with a positive change of 20 percent in asset management and a threefold increase in advisory income.

The loss is EUR126,000, an improvement of EUR165,000 compared to the same period in 2022.

Income from the insurance business shows a decline of nearly 50%, due to the slowdown in distribution activity.

Fee and commission expense increased by 27 percent year-on-year, correlating with the trend in fee and commission income.

Net interest and other banking income amounted to EUR955,000, an increase of EUR244,000 over the same period last year.

The first quarter shows positive net inflows of more than EUR9 million, even taking into account the closures of some inactive relationships, with a very good result for investment advice, which reports inflows of EUR29 million, and asset management, whose inflows exceed EUR23 million.

Assets Under Control increased from EUR848 million, recorded at the end of the previous year, to EUR878 million. Notable among the various services are asset management, which increased from EUR211 million in 2022 to EUR238 million at the end of the first quarter, and investment advisory, whose assets exceed EUR128 million compared to EUR95 million recorded in 2022.

Solutions Capital Management SIM closed flat Monday at EUR2.50 per share.

By Claudia Cavaliere, Alliance News reporter

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