Research Article
Real Estate Asset Management Companies’ Economies of Scale: Is It a Dream or Reality? The Italian Case
Table 4
Amount of asset under management for each SGR from 2013 to 2018.
| SGR | AUM (bn €) | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
| 1 | 9.396 | 9.488 | 8.593 | 7.867 | 8.983 | 9.179 | 2 | 7.321 | 7.521 | 6.890 | 6.769 | 7.074 | 3.882 | 3 | 4.880 | 5.060 | 4.592 | 5.567 | 5.505 | 4.515 | 4 | 7.040 | 5.070 | 5.351 | 5.508 | 5.421 | 5.498 | 5 | 5.453 | 4.870 | 3.829 | 3.270 | 2.935 | 2.725 | 6 | 4.400 | 3.551 | 3.796 | 3.583 | 3.243 | 3.349 | 7 | 3.770 | 3.361 | 3.220 | 3.562 | 3.404 | 2.272 | 8 | 3.955 | 2.810 | 1.780 | 500 | 307 | 40 | 9 | 3.142 | 2.300 | 1.663 | 1.326 | 840 | 520 | 10 | 2.503 | 2.198 | 2.065 | 1.523 | 1.014 | 541 | 11 | 2.352 | 2.127 | 1.967 | 1.587 | 1.410 | 1.360 | 12 | 1.394 | 1.644 | 1.494 | 1.591 | 1.380 | 1.231 | 13 | 933 | 1.266 | 1.392 | 1.411 | 1.469 | 1.482 | 14 | 1.053 | 1.033 | 1.120 | 1.151 | 843 | 872 | 15 | — | — | 1.135 | 1.139 | 850 | 435 | 16 | 1.518 | 1.179 | 1.036 | 931 | 820 | 1.036 | 17 | 1.280 | 1.173 | 1.120 | 919 | 1.007 | 1.003 | 18 | 1.958 | 1.411 | 1.411 | 773 | 709 | 497 | 19 | 1.235 | 1.215 | 804 | 738 | 659 | 620 | 20 | 1.152 | 938 | 653 | 592 | 540 | 515 | 21 | 1.137 | 985 | 943 | 490 | 501 | 509 | 22 | 1.018 | 826 | 814 | 910 | 756 | 682 | 23 | 27 | 29 | 259 | 299 | 276 | 356 | 24 | 48 | 108 | 171 | 268 | 334 | 390 | 25 | 92 | 100 | 107 | 229 | 236 | 236 | 26 | 473 | 273 | 117 | 147 | 258 | 311 | Tot. | 67.530 | 60.536 | 56.322 | 52.650 | 50.774 | 44.056 |
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Values in italics represent cluster 1, values in bold represent cluster 2, and values in bold italics represent cluster 3.
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