Annual Report 2020

Annual Report 2020

October 2021

ALPHA TRUST MUTUAL FUND AND ALTERNATIVE INVESTMENT FUND MANAGEMENT S.A.

Hellenic Capital Market Commission's License 24th/ Subj.669/23.12.2013 & 7/695/15.10.2014, General Electronic Commercial Registry: 882401000

www.alphatrust.gr

[e-mail]

@alphatrust

@alphatrust_

@alphatrust

UCITS OFFER NO GUARANTEED RETURN AND PAST PERFORMANCE DOES NOT GUARANTEE THE FUTURE ONE

Identity

Founded in 1987, ALPHA TRUST is the largest and oldest independent asset manager of private and institutional investors domiciled in Greece.

The company consistently ranks among the best performing fund managers, with significant experience in the management of Corporate & Occupational Pension Schemes and Insurance Companies' reserves.

ALPHA TRUST operates in Greece and Luxembourg.

Regulated by the Hellenic Capital Market Commission, is listed in the Alternative Market of the Athens Stock Exchange since 1st August 2008.

ALPHA TRUST has been successful in establishing long lasting relationships with its clients based on integrity, discretion, reliability and accountability.

Integrity

Ethos	Ιδιωτικά
	Προγράμματα
Innovation	(Πυλώνας ΙΙΙ)

Our Values

Excellence

Responsibility

Sustainability

At ALPHA TRUST we are devoted to the achievement of the objectives and aspirations of our investors' while delivering value to our shareholders and society at large.

Institutional Investors

Pension Funds	Private Investors
Pillar Ι	Companies
Pillar ΙΙ
Pillar ΙΙΙ

Discretionary
			AIFs
	UCITS
Mandates

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Assets under management

31/12/2020

Evolution of Assets under Management

1,400

1,212 1,247

1,200

1,016 1,008

1,000

mn.€	668
	800

600

400

200

77

0

1987

1997

2007

2017

2018

2019

2020

Breakdown of Assets under Management

by investor type		by business line

	Institutional Clients	84.1%
	Private Clients	15.9%

	Mandates	71.2%
	UCITS	22.2%
	AIFs	6.6%

Notes: 1. Evolution of continuing operations 2. Includes Advisory and third party UCITS.

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Share performance since IPO

in the Alternative Market of the Athens Stock Exchange 01/08/2008 - 31/12/2020

				ALPHA TRUST (CR)			Athex Composite Share Price Index
25%
0%
-25%
-50%									-46.77%
-75%
								-76.05%
-100%
08/2008	09/2011	10/2014	11/2017	12/2020
Note: The share's	performance is adjusted for Capital returns

Source: ATHEX, ALPHA TRUST

Dividends & Capital Returns since IPO
Year	Dividend	Capital Return	Total
2008
2009
2010		311,000	311,000
2011
2012
2013		4,665,000	4,665,000
2014		4,639,878	4,639,878
2015	618,650		618,650
2016	463,988		463,988
2017		494,920	494,920
2018	357,896	541,319	899,215
2019	300,633	216,017	516,650
2020	2,064,160		2,064,160
2021	464,939		464,939
Total	4,270,266	10,868,134	15,138,400

Notes: 1. The amount of 2014 refers to the distribution of tax-exempt reserves 2. The dividend of 2021 was approved by the AGM on 29/06/2021.

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Board of Directors' Report

Dear Shareholders,

The Board of Directors' Report which follows (hereinafter the "Report") relates to the fiscal year 2020, was prepared and is in line with the spirit and provisions of the International Financial Reporting Standards (IFRS) as adopted by the European Union.

This Report sets out in a clear, concise and substantive manner all the important individual issues which are necessary in order to provide well-substantiated information about the activities and financial results of the Group and the Company with the corporate name ALPHA TRUST MUTUAL FUND AND ALTERNATIVE INVESTMENT MANAGEMENT S.A. (hereinafter referred to for the sake of brevity as the "Company" or "ALPHA TRUST") in 2020 and contains comment for the outlook for the current year 2021. This Report was prepared in accordance with the terms and conditions laid down in Article 150 of Law 4548/2018 on the reform of the law on sociétés anonymes, as in force.

Key financials

The main financials for the 2020 financial year and the profitability and performance indicators for the 16th financial year that the IFRS have been in use (and 30th financial year for the company overall) are as follows:

Key financials for the 2020 financial year - Profitability and performance indicators

Key Financial Data for the ALPHA TRUST Group (in €)

Turnover

Operating cost

Operating profit

Earnings

Earnings after taxes

EBITDA

Profit per share before taxes (adjusted)

Profit per share after taxes (adjusted)

EBITDA earnings per share (adjusted)

Assets under management (in € mn.)

2020	2019	2018
6,510,690	8,067,111	6,518,252
2,555,433	2,736,801	2,564,644
3,955,257	5,330,310	3,953,608
1,423,722	2,571,714	1,249,648
1,010,017	1,640,095	962,220
1,607,589	2,846,079	1,385,586
0.477	0.862	0.436
0.338	0.550	0.335
0.539	0.954	0.483
1,247	1,212	1,008

Personnel	43	48	47

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