FDC's annual audited results

At the end of 2020, the income generated by the management of the compensation reserve amounted to approximately EUR 1.17 billion from which FDC's operating costs of EUR 22.88 million must be deducted. The result is a net income of nearly EUR 1.15 billion, which is EUR 1.47 billion less than compared to 2019.

Overall, FDC's return on investment was 5.35%, a decrease of 8.89% compared to the exceptional result of the previous year. Since its inception, FDC has generated net revenues of almost EUR 9.92 billion, corresponding to an annualised rate of return of 4.63%.

The SICAV's annual audited results

It goes without saying that FDC’s results are highly dependent on the performances of its SICAV. Thus, the value of the SICAV at the end of 2020 was EUR 21.60 billion, an increase of EUR 1.62 billion compared to the beginning of the year. This increase is the result of the annual amount of new subscriptions into the SICAV of EUR 490 millions and capital gains on the SICAV’s investments of almost EUR 1.13 billion.

Since its inception in 2007, FDC’s SICAV has generated capital gains of more than EUR 9.18 billion and an annualised return of 5.35%. This return is above the strategic target return set by FDC for its SICAV.