Xelion closes in on break-even point

The value of assets managed by Unicredit-owned financial advisors Xelion reached zł.512 million at the end of June, exceeding its earlier annual prognosis.

"Our most important plan for 2006 was to acquire zł.0.5 billion in assets - we managed to do it and now we are increasing our annual target to zł.700 million," said Adam Niwiński, Xelion's CEO.

According to Niwiński, the key to the firm's success lies in the recruitment of new financial advisers and a wide range of investment products.

"We want to maintain the positive trends. The target for this year is to increase the number of advisers to 300, increase assets to zł.700 million and keep sales at the level of zł.40-50 million a month," Niwiński stressed.

Xelion has also recently started cooperation with a new strategic partner - Franklin Templeton Investments. "So far, we are the only distributor of both Franklin Templeton Investments and Merrill Lynch Investments Management. At first, we will offer 23 funds managed by our new partner," explained Maciej Paczkowski, director for product development at Xelion.

Before the deal with Franklin Templeton, Xelion offered 49 Polish investment funds, 27 capital funds and 54 foreign funds managed by Merrill Lynch. Recently, the company also widened its product offer with five ING TFI funds, and starting from September it will also provide umbrella funds, including ING Parasol.

Ninety percent of Xelion's revenues come from the sale of investment products. The company is planning to break even in 2008.