MPC Capital continues to bring new institutional assets onboard, with c €0.5bn added in 2020 (mostly in the real estate segment). This largely offset the declining legacy retail business, with MPC’s assets under management (AUM) declining slightly to €4.4bn (84% of which are institutional assets) from €4.5bn at end-2019. MPC guides to lower revenue in FY21 (partially due to negative JV consolidation effects) and an improved pre-tax profit, which may benefit from continued strength in the container shipping market and expansion in sustainable assets. The latter includes a €300m ESG housing fund and a US$100m investment vehicle focused on developing green and low-cost energy infrastructure.
