Groupama // Universal Registration Document 2022

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THE GROUP’S BUSINESSES Financial businesses

2.4 FINANCIAL BUSINESSES

2.4.1

GROUPAMA ASSET MANAGEMENT

2.4.2

GROUPAMA IMMOBILIER

The business lines of Groupama Immobilier are based on appreciation of properties under management, the administrative and financial management of leases and an advisory role for companies of the Group and for third parties. In particular, Groupama Immobilier manages property assets held by Groupama Assurances Mutuelles and its French subsidiaries, representing a total value of €3.6 billion as of 31 December 2022. These assets include commercial property (70%), residential property (24%), mainly in Paris and its immediate suburbs, operational property (9%), and forests (6%). Groupama Immobilier has ISO 9001 certification (2015 version) and ISO 14001 (2015 version) for investment, management, and valuation of property assets: acquisitions, major projects, marketing, property and technical management, and sales. In 2022, the portfolio management company Groupama Gan REIM, a subsidiary of Groupama Immobilier (60%) and Groupama Gan Vie (40%), continued its development through an investment campaign for the various managed AIFs (OPPCI, OPCI, and SCPI).

Groupama Asset Management, a subsidiary dedicated to Asset Management, is ranked number 6 among French Asset Management companies (AFG ranking – December 2021). Groupama Asset Management posted income of €204 million as of 31 December 2022. Assets under management amounted to €93.5 billion, including 25.7% on behalf of external customers. The series of exceptional events that marked 2022, including the war in Ukraine, the energy crisis, the return of long ‑ term inflation, and their impact on the financial markets (decline in the equity market and rises in interest rates), affected volumes of assets under management. Nevertheless, Groupama Asset Management’s business model proved resilient, reinforcing the direction given to the development strategy in recent years, between diversification of customer targets and geographical diversification through the internationalisation of the management offering. The management quality and the performance of its funds were recognised again in 2022. The European Funds Trophy recognised Groupama Asset Management as the top management company in France and Europe in the category of 41 to 70 rated funds for the third consecutive year. Equity and Convertible Bond management received 25 awards this year, reflecting especially an expertise in the Small and Mid ‑ Cap, French equity, and international equity segments. In 2022, in line with the Group’s policy and values, Groupama Asset Management accelerated the integration of ESG (environmental, social, and governance) criteria into all of its financial analyses and investment vehicles by equipping itself with innovative data processing tools and training all of its employees in this approach. New funds were launched to provide a solution for customers who want to make long ‑ term investments and contribute to the economic recovery, such as G Fund High Yield Maturity III and Groupama Social Impact Debt. At the same time, the general labelling initiative was rolled out for the offering of funds. There are now 49 open ‑ ended funds awarded the SRI label for assets under management of more than €25.5 billion. As at 31 December 2022, almost 83% of the assets under management meet ESG criteria (SRI Label, Articles 8 and 9 according to the SFDR Regulation).

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Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES