Quarterly better than expected for Anima which reported an adjusted net profit of 55.4 million, 17% above the estimates according to Equita Sim. Revenues were also 11% higher thanks to higher management fees (5% better), performance fees and other revenues. Retail deposits in the third quarter reached the highest amount in the last 5 years (+ 385mn) with a good performance on all distribution channels and a strong contribution from BPM and Monte dei Paschi di Siena. According to Equia, the estimates for 2021-23 profit mark + 6% on average (adj. Profit + 7.5%) to 220-149-150 million for higher revenues (management fees + 3% on average for margins and net inflows more high), higher performance fees (respectively at 115-35-35mn from 100-30-30mn prev.).