The 2021 audited annual report of FDC's SICAV is now available.
At the end of 2021, the SICAV achieved a performance of 12.03%, outperforming its strategic benchmark by 2.46%. This result was mainly due to the strong performance of equities, which rose by 28.18% in 2021, while the strategic benchmark associated to this asset class grew by 26.17%. Bonds showed a negative result of -2.53%, but outperformed its strategic benchmark by 4 basis points. Money market funds performed -0.53% in a still very low interest rate environment, while the respective strategic benchmark closed the year with a result of -0.60%. Finally, global real estate was very strong in 2021 with a performance of 25.18%, corresponding to an outperformance of 9.73% compared to its strategic benchmark.
The value of the SICAV at the end of the year was EUR 24.60 billion, an increase of some EUR 3 billion over the previous year. This increase was due to net annual subscriptions totalling 375 million euros and capital gains of approximately 2.63 billion euros.