2. 2
Figures as of 31st March 2017, with exception of Pension Funds that refer to 31st December 2016
Source: APFIPP, ASF e CMVM
* - Includes Pension Fund Managers and Insurance Companies
** - Includes Asset Management Companies, Other Investment Companies, Credit Institutions and Mutual Fund Managers
What we are:
Mutual Fund Managers
Entities
Assets under
Management (Millions €)
Real Estate Fund Managers
Pension Fund Managers*
15 11 526
Individual Portfolio Managers**
Number of
Entities
33 10 658
22 18 468
40 62 532
PORTUGAL
3. 3
3
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 mar/17
Mutual Funds Real Estate Funds Pension Funds* Discretionary Management
Source: APFIPP, ASF e CMVM.
* The Pension Funds’ figures of March 2017 refer to the end of December 2016
Assets under Management (millons de €)
Some Mutual Fund Managers started
to manage Investment portfolios
from Insurers (mandate)
What strengths: PORTUGAL
4. 4
What strengths:
Source: APFIPP e CMVM
Figures as of 31st March 2017
Number of Funds Assets under Management(millions €)
PORTUGAL
Mutual
Funds, 170
Real Estate
Funds, 234
37
49
45
26
5
5
3
Others
Multi-Assets Funds
Equity Funds
Bond Funds
Money Market Funds
Guaranteed Funds
Absolute Return Funds
Equity
Funds, 1,141 Bond Funds,
1,226
Multi-Assets
Funds, 2,543
Money
Market
Funds, 806
Guaranteed
Funds, 212Absolute
Return
Funds, 21
Other
Funds, 5,577
Real Estate
Funds,
10,658
5. 5
Where we are:
5
4 561 288
14 141 514
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Assets under Management – UCITS and AIF (millions €)
Source: EFAMA
EUROPE
7. 7
How we are:
Since 2015:
1 - Portuguese Funds have a new legal and
regulatory framework in line with the European
Directives
- Portuguese Authorities are working in the
transposition, to the Portuguese law, of UCITS V
Directive.
2 - Portuguese Funds have a new competitive
legal tax regime, in line with the best practices.
- The Funds are practically exempt;
- Taxation occurs mainly at the level of the investor;
- Foreign investors of Mutual Funds are exempt;
- Foreign investors of Real Estate Funds are subject to
a small withholding tax (10%).
8. 8
How we are:
Name of the Fund
Annualized
Return
Risk
Class
BPI Brasil Valor - F.I.A. 58.57% 7
BPI Brasil 48.40% 6
Caixagest Acções EUA 26.48% 5
Santander Acções América 25.93% 5
Montepio Euro Energy 24.79% 6
BPI Ásia Pacífico 24.17% 5
Montepio Euro Financial Services 23.43% 7
BPI América - Categoria D 22.93% 6
Multi Gestão Mercados Emergentes 21.99% 5
NB Ações América 21.98% 5
Name of the Fund
Annualized
Return
Risk
Class
SGF Patr. Ref. Acções PPR 7.70% 4
PPR BBVA Acções 6.25% 4
Optimize Capital Reforma PPR Acções 6.19% 4
PPR BIG Acções Alpha 5.84% 4
PPR SGF Acções Dinâmico 5.77% 4
Bankinter PPR Acções 55 5.74% 4
PPR Platinium 5.64% 3
PPR SGF STOIK Ações 5.45% 3
PPR Geração Activa 5.33% 3
IMGA Investimento PPR Ações 5.02% 3
A) Funds with higher returns - 1 YEAR
Source: APFIPP
Figures as of 31st March 2017.
Includes only Funds managed by APFIPP’s Members
Name of the Fund
Annualized
Return
Risk
Class
Multireforma Acções 12.91% 5
Horizonte Acções 8.07% 4
BPI Acções 7.85% 4
Futuro XXI 7.76% 4
BBVA Multiactivo Moderado 7.37% 4
Optimize Capital Pensões Acções 6.99% 4
Optimize Capital Pensões Equilibrado 6.52% 3
SGF Square Acções 5.58% 4
Optimize Capital Pensões Moderado 4.92% 3
Rendimento Activo 4.38% 3
Mutual Funds
PPR Funds
Open Pension Funds
9. 9
How we are:
Name of the Fund
Annualized
Return
Risk
Class
Optimize Capital Reforma PPR Acções 4.87% 4
Optimize Capital Reforma PPR Moderado 3.50% 4
PPR BIG Taxa Plus 3.22% 4
Optimize Capital Reforma PPR Equilibrado 3.12% 4
PPR SGF Acções Dinâmico 3.01% 4
PPR BIG Acções Alpha 2.90% 4
NB PPR 2.80% 4
PPR Geração Activa 2.37% 4
PPR Praemium V 2.36% 4
PPR Platinium 2.35% 4
B) Funds with higher returns - 3 YEARS
Name of the Fund
Annualized
Return
Risk
Class
Optimize Capital Pensões Acções 4.94% 4
Horizonte Acções 4.63% 4
BPI Acções 4.63% 4
Optimize Capital Pensões Equilibrado 3.97% 4
Caixa Reforma Garantida 2022 3.83% 3
Protecção 2020 3.79% 3
BPI Valorização 3.38% 3
Rendimento Activo 3.38% 3
Turismo Pensões 3.38% 4
Optimize Capital Pensões Moderado 3.31% 3
Mutual Funds
PPR Funds
Open Pension Funds
Name of the Fund
Annualized
Return
Risk
Class
Caixagest Acções EUA 16.32% 6
Santander Acções América 16.31% 5
BPI América - Categoria D 14.49% 6
Caixagest Infraestruturas - F.I.A. 13.61% 3
Caixagest Ações Líderes Globais 13.25% 5
IMGA Ações América 13.07% 5
Caixagest Acções Japão 12.04% 6
Caixagest Private Equity - F.I.A. 11.22% 3
IMGA Global Equities Selection 10.95% 5
BPI Ásia Pacífico 8.95% 6
Source: APFIPP
Figures as of 31st March 2017.
Includes only Funds managed by APFIPP’s Members
10. 10
How we are:
Name of the Fund
Annualized
Return
Risk
Class
NB PPR 8.44% 4
Optimize Capital Reforma PPR Moderado 6.33% 4
Optimize Capital Reforma PPR Acções 6.30% 4
Optimize Capital Reforma PPR Equilibrado 5.09% 4
PPR Geração Activa 4.87% 4
PPR Platinium 4.87% 4
PPR 5 Estrelas 4.46% 3
PPR SGF Acções Dinâmico 4.38% 4
PPR Praemium V 4.14% 4
PPR BBVA Acções 4.06% 4
C) Funds with higher returns - 5 YEARS
Mutual Funds
PPR Funds
Open Pension Funds
Name of the Fund
Annualized
Return
Risk
Class
Santander Acções América 13.59% 5
Caixagest Acções EUA 13.36% 5
Montepio Euro Healhcare 13.00% 5
BPI América - Categoria D 11.45% 5
IMGA Ações América 11.39% 5
Caixagest Infraestruturas - F.I.A. 9.98% 3
NB Obrigações Europa 9.25% 4
NB Ações América 8.73% 5
Montepio Acções Europa 8.73% 6
Santander Accões Europa 8.56% 6
Name of the Fund
Annualized
Return
Risk
Class
Optimize Capital Pensões Acções 7.73% 4
Optimize Capital Pensões Equilibrado 6.88% 4
Protecção 2020 6.62% 4
Horizonte Acções 6.34% 4
BPI Acções 6.11% 4
Optimize Capital Pensões Moderado 5.59% 3
Multireforma Acções 5.04% 6
Turismo Pensões 4.89% 3
Caixa Reforma Garantida 2022 4.86% 3
Horizonte Valorização 4.75% 3
Source: APFIPP
Figures as of 31st March 2017.
Includes only Funds managed by APFIPP’s Members
11. 11
How we are:
Name of the Fund
Annualized
Return
Risk
Class
NB PPR 5.63% 4
PPR Vintage 3.63% 3
PPR 5 Estrelas 2.93% 3
PPR Europa 2.79% 4
PPR Garantia de Futuro 2.49% 3
PPR Platinium 2.38% 4
CVI PPR/E 2.15% 4
IMGA Poupança PPR 1.94% 3
BPI Refoma Acções PPR 1.85% 4
BBVA Solidez PPR 1.44% 2
D) Funds with higher returns - 10 YEARS
Name of the Fund
Annualized
Return
Risk
Class
BPI Acções 3.50% 4
BPI Valorização 2.98% 3
Horizonte Acções 2.87% 4
Caixa Reforma Garantida 2022 2.87% 4
Reforma Empresa 2.86% 3
Turismo Pensões 2.82% 4
Futuro Clássico 2.56% 3
BPI Segurança 2.43% 3
Horizonte Valorização 2.26% 4
Multireforma 2.26% 3
Mutual Funds
PPR Funds
Open Pension Funds
Name of the Fund
Annualized
Return
Risk
Class
NB Obrigações Europa 7.75% 4
Caixagest Acções EUA 7.20% 6
Santander Acções América 5.91% 6
IMGA Ações América 5.14% 6
Montepio Taxa Fixa 4.47% 4
BPI América - Categoria D 4.05% 6
Caixagest Acções Oriente 3.95% 6
BPI Obrigações A.R.A.R. 3.71% 4
Santander Multi Taxa Fixa 3.68% 3
Caixagest Private Equity - F.I.A. 3.14% 4
Source: APFIPP
Figures as of 31st March 2017.
Includes only Funds managed by APFIPP’s Members
16. 16
What to do:
Make our ecosystem a place of excellence:
Portugal
as host of international
management
17. 17
Wehave(almost) everythingtohavesuccess:
Quality of peopleNatural conditions to live
Efficient resolution of conflicts
through Arbitrage Procedures
Digital Platform of Funds
Commercialization (in project)
Blockchain
Excellent Physical infrastructures
(telecommunications and communications)
18. 18
APFIPPBlockchainProject: FundsHarbour
Investor
Main goals of the platform:
It aims to simplify and make the
distribution of Funds, in Portugal, more
efficient;
It puts the Customer at the center,
around whom the offer of products and
services is made through an open
competition;
It seeks to reduce the burden of
reporting to Regulators and Supervisors;
It puts Portugal on the map of leadership
in technology and financial industry
processes.