FDC's annual audited results

At the end of 2022, the income generated by FDC amounted to 52 million euros, while FDC’s operating costs represented almost 23 million euros. Taking into account the decrease of net assets of FDC’s SICAV of 3.17 billion euros, a negative net income of 3.15 billion euros had to be recorded by the FDC.

Overall, FDC's return on investment in 2022 was -11.93% in 2022. Since its creation in 2004, FDC has generated net revenues of almost EUR 9.42 billion, corresponding to an annualised rate of return of 4.00%. Since the launch of the SICAV in 2007, FDC has generated an annualised return of 4,42%.  

The SICAV's annual audited results

It goes without saying that FDC’s results are highly dependent on the performance of its SICAV. The value of the SICAV at the end of 2022 was EUR 21.91 billion, a decrease of EUR 2.69 billion compared to the beginning of the year. This decrease is the result of the annual amount of new subscriptions into the SICAV of EUR 480 million and a capital loss on the SICAV’s investments of EUR 3.17 billion.

Since its inception in 2007, FDC’s SICAV has generated capital gains of more than EUR 8.64 billion and an annualised return of 4.47%. This return is above the strategic target return set by FDC for its SICAV.