FDC's annual audited results

At the end of 2021, the income generated by the management of the compensation reserve amounted to approximately EUR 2.67 billion from which FDC's operating costs of EUR 23.2 million must be deducted. The result is a net income of nearly EUR 2.65 billion, which is EUR 1.5 billion more in comparison with 2020.

Overall, FDC's return on investment was 11.44%, an increase of 6.09% compared to the result of the previous year. Since its inception, FDC has generated net revenues of almost EUR 12.57 billion, corresponding to an annualised rate of return of 5.02%.

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.