GROUPAMA / 2018 Registration document

2 THE GROUP’S BUSINESSES FINANCIAL BUSINESSES

FINANCIAL BUSINESSES 2.4

2.4.1

GROUPAMA ASSET MANAGEMENT

2.4.2

GROUPAMA IMMOBILIER

The core activities of Groupama Immobilier are the valuation of assets under management, the property management of assets and providing advice to companies of the Group andthird parties. GroupamaImmobiliermanagesproperty assets held by Groupama Assurances Mutuelles and its French subsidiaries representing a total value of €4.4 billionas of 31 December2018. These assets include commercial property (82%), residential property (15%), mainly in Paris and its immediate suburbs, as well as forests (3%). Groupama Immobilier has ISO 9001 certification (version 2015)for investment, management and valuation of property assets: acquisitions, major projects, marketing, property and technical management, andsales. In 2018, the property investment management company GroupamaGan REIM, a subsidiary of Groupama Immobilier (60%) and Groupama Gan Vie (40%), developed its new real estate investment vehicles (OPIC, SCPI, and OPPCI), available as part of a Groupamalife insurance policyor capitalisation contract.

Groupama Asset Management, a subsidiary dedicated to asset management, is ranked 9 th among French asset management companies (AFG ranking –  December 2017). Groupama Asset Management posted income of €164 million as of 31 December 2018. Assets under management amounted to €99.4 billion, including21% on behalf ofexternal customers. The robustness of subscription flows and the good performance delivered by management reinforce the direction given to the development strategy in recent years, between diversification of customer targets and geographical diversification through the internationalisation of themanagement offering. The management quality and the performance of its funds were recognised again in 2018. For the 33rd Corbeilles “Mieux Vivre Votre Argent”, Groupama Asset Management received the Gold trophy for best management company over 1 year and the Certificate for best share-based savings plan management range over 1 year . With regard to SRI, in line with the Group’s policy and values, Groupama Asset Management incorporates ESG (environmental, social and governance) criteria into all of its financial analyses and investment decisions. Its two funds, Euro Capital Durable and Groupama Euro Crédit ISR, obtained the SRI certification in 2016 and 2018.

26 REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES