The Shareholders’ Meeting of Prelios Sgr Have Convened and Appointed a New BoD

Apr 28 2017

The Shareholders’ Meeting of Prelios SGR S.p.A., which have convened today to approve, inter alia, the renewal of the management body that has reached its term, has appointed a new Board of Directors.

The Shareholders’ Meeting has confirmed that the number of the Board’s members will remain of 7, 4 of which are independent directors, including chairman Mario Anolli. With a view to continuity and strengthening, the meeting has appointed Andrea Cornetti, General Manager of the Company, as a director.

Following today’s appointments, the Board of Directors of Prelios SGR S.p.A. is therefore composed as follows:

Mario Anolli, Independent Director and Chairman of the Board
Gino Nardozzi Tonielli, Independent Director
Antonio Passantino, Independent Director
Luca Preziosi, Independent Director
Andrea Cornetti, Director
Bruno Camisasca, Director
Sergio Cavallino, Director

The meeting has also fixed the duration of the appointment in three years, until the Shareholders’ Meeting that will be convened for the approval of the Financial Statements as at 31 December 2019.

The Curricula Vitae of the Directors are available on Prelios SGR’s Internet site at the address www.preliossgr.com.

The Shareholders’ Meeting thanked and expressed its appreciation for the work and professionalism of the outgoing directors, in particular Chairman Alberto Rossetti, stressing its satisfaction for his efforts to revive Prelios SGR S.p.A. and for the significant results achieved. Thanks to all this, the Company has been able to reach its current position in the market and to cultivate possible partnerships, creating the conditions for further growth and strengthening.

Prelios SGR S.p.A. manages a total of 31 alternative investment funds (“AIF”) (one of them listed), as well as management contracts for the divestment of two real estate portfolios. Revenues in 2016, largely represented by management commissions, totalled €17.3 million, up (3%) from the 2015 figure. Operating profit was €5.8 million, up compared with €3.6 million in 2015, partly due to the increase in revenue deriving from new initiatives and the ongoing process of structural and occasional cost containment. With regards to the development of new initiatives, Prelios SGR S.p.A. set up five new AIFs in the period, which brought assets under management to approximately €3.9 billion: Bernina Social Housing Fund, Madison Imperiale Fund, Logita Fund, IASO Fund and REstart Fund. In 2016, Prelios SGR S.p.A. also received a new mandate to manage the process of developing a property portfolio owned by a real estate company. Finally, activities continued to increase the volume of assets under management through funds already under management, with the acquisition, contribution and development of new properties replacing the assets of funds that have reached the end of their life cycle.