Assets managed

Asset management accounts for most of the Group’s activities in the financial segment and focuses mainly on the management of the Group companies’ financial instruments.

At 31 December 2011, assets managed by banks and asset management companies amounted to  € 424.433,0 milioni di euro (432,043.1 million at 31 December 2010),  of which third-party assets amounted to € 88,207.2 million (92,980.1 million at 31 December 2010). The figure is influenced by the change of the consolidation area that affected mainly the Mexican perimeter. On equivalent consolidation area the assets managed on behalf of third parties increased of 3.4% compared to 31 December 2010.