MPC Capital placed more than EUR 1 billion in 2007 and expects growth in 2008
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Hamburg (euro adhoc) - MPC Capital placed more than EUR 1 billion in 2007 and expects growth in 2008
. 2007 placement volume reported at EUR 1.06 billion . Launch of first product for institutional investors . 2008 further growth expected
Hamburg, January 17, 2008 - For the third time in the history of the company MPC Capital AG raised more than EUR 1 billion from investors in 2007. Institutional investors and private investors invested a total of EUR 1,062 million (2006: EUR 1,008 million) in products initiated by the Hamburg-based wealth and asset manager.
The development in 2007 was dominated by the ship segment, with closed-end ship investments attracting by far the largest equity volume of EUR 395 million. In addition, the MPC Global Maritime Opportunities fund was MPC Capital AG's first ever shipping product for institutional investors. This product was successfully placed in a volatile market environment, syndicating USD 228 million (EUR 158 million) in investment. In the real estate segment, the company launched its innovative and much-noted Indian real estate fund towards the end of the year. Given that a EUR 37 million equity portion was booked as of December 31, 2007 and that the MPC Global Maritime Opportunities is geared to delivering recurring management revenues, both products will unfold their economic impact only in the current fiscal year.
Moving forward into 2008, the Management Board expects to report the highest placement volume in the history of the company. From today's point of view, placement is to increase to EUR 1,100 million. This optimistic outlook is supported by the contracted product volume especially in the area of ship investments, such innovations as an oil drilling rig (MPC Deepsea Oil Explorer), such new asset classes as the area of renewable energies and the broad range of open-ended and closed-end capital investments. The underlying assets have almost been fully secured and the assets are fully financed without exception.
Based on the targeted EUR 1,100 million placement volume, the management expects reporting EUR 45 million in 2008 net income (EPS EUR 4.25).
MPC Capital AG's figures for fiscal 2007 will be published on February 28, 2008. |Business segment in EUR m |2006 |2007 |+/- |2008 (e) | |Real estate funds |234 |227 |- 3% |250 | | thereof Real Estate |103 |151 |+ 47% |150 | |Opportunity | | | | | |Corporate investments |420 |558 |+ 33% | | | thereof ship investments |411 |553 |+ 34% |550 | |Life insurance funds |142 |115 |- 19% |100 | |Renewable energies funds |- |- |- |50 | |Structured products |119 |75 |- 37% |100 | |Private equity funds |49 |39 |- 22 % |30 | |Investment funds |44 |49 |+ 12 % |20 | |TOTAL |1,008 |1,062 |+ 5 % |1,100 | *Deviations due to rounding of figures.
Since 1994, approx. 161,000 customers have invested approx. EUR 6.83 billion in 283 investment vehicles with a total investment volume of over EUR 16,56 billion.
Dr. Axel Schroeder, Chairman of the Managing Board of MPC Capital AG, commented: "The past year presented a mixed picture. On the one hand, we did not fully match our targets in the areas of life insurance funds and structured products. On the other hand, we achieved a number of impressive successes. For example, our team once again succeeded in syndicating more than EUR 1 billion in cooperation with our distribution partners, we entered new markets e.g. through our India real estate fund, and we commenced serving a new target group, namely institutional investors. Most importantly, however, we were successful in creating an excellent starting position for the future. We have further developed our organisation and pooled our distribution power under the MPC Capital brand. We have completed a number of innovative products and developed existing products further. And we have the most substantial product pipeline ever seen in the history of the company. We are looking forward to a successful year." The development of the business segments in 2007
Investments in international shipping were the most successful product segment in terms of placements in 2007. Private investors subscribed closed-end funds investing in various ship segments and an equity volume of EUR 395 million (previous year: EUR 411 million). Apart from container ships, the ship investments also comprised reefers and product tankers which all benefit from stable and mostly long-term employments. The MPC Global Maritime Opportunities fund is MPC Capital's first-ever offering for institutional investors. A placement volume of EUR 158 million testifies for the success of this product. The fund makes investments all along the maritime value chain; in addition to investments in ships of all types, the fund may invest in maritime infrastructure projects and companies as well. Its opportunistic and exclusively yield-oriented investment and charter strategies are designed to capitalise on the important potential resulting from the different cycles in the individual shipping markets and to profit from these opportunities. All told, EUR 558 million were placed in the corporate investments segment in 2007 compared to EUR 420 million in 2006.
The focus in the real estate funds segment was on opportunistic investment concepts. Investments in Real Estate Opportunity funds totalled EUR 151 million (EUR 103 million). Due to the situation in the international real estate markets MPC Capital continued to demonstrate great restraint and launched only two traditional closed-end funds based on Dutch real estate. At year-end an innovation was presented to investors when MPC Capital provided mass affluent private customers with access to the Indian real estate market. This fund was fully placed within the shortest possible time. EUR 37 million were recognised at December 31, 2007. A total of EUR 227 million (previous year: EUR 234 million) were invested in traditional real estate funds and the Real Estate Opportunity investment concept.
At a placement volume of EUR 115 million (previous year: EUR 142 million), the segment of life insurance funds remained below the original forecasts. As expected, the slowed placement speed meant that the raising of equity for the 7th life insurance fund continued beyond December 31, 2007. EUR 69 million was accounted for by funds based on German capital life insurance policies and EUR 46 million by funds based on British policies.
Coming in at EUR 75 million (previous year: EUR 119 million), the placement volume in the structured products segment underperformed expectations particularly with regard to capital-protected notes and certificates. Against the background and in view of the activities in the institutional business, MPC Capital has decided to change its distribution structure and to pool all distribution channels under the MPC Capital brand.
In the private equity segment, the placement of the Global Equity 9 fund was completed on the record date. Total equity raised in 2007 amounted to EUR 39 million (previous year: EUR 49 million).
Investments in open-ended investment funds, especially the MPC Europa Methodik fund, attracted a total inflow of funds of EUR 49 million, compared to EUR 44 million in the previous year.
At EUR 86 million (previous year: EUR 112 million), MPC Capital's Austrian subsidiaries accounted for 8% of Group equity placed.
If you have any questions, please contact:
Andreas Schwarzwälder
Investor Relations
MPC Münchmeyer Petersen Capital AG, Palmaille 67, D-22767 Hamburg, phone: +49 40/380 22-4347, Fax: +49 40/380 22-4878, e-mail: ir@mpc-capital.com
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Andreas Schwarzwälder
+49 (0)40 380224347
ir@mpc-capital.com
Branche: Financial & Business Services
ISIN: DE0005187603
WKN: 518760
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