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Note: the quarterly data shown are referred to ACEPI issuers in each quarter and from 2018 the data includes the private placements, and from 2006 to 2017 were excluded from the analysis.
Primary Market ACEPI
| 2024** | Q1 | Q2 | Q3 | Q4 | TOTALE |
|---|---|---|---|---|---|
| placed (in MLN €) | 6.472 | 6.413 | 5.432 | ||
| number of products placed | 442 | 477 | 393 | ||
| Top placed by product type | |||||
| 1 | 40% Digital (Capital Protected) | 44% Digital (Capital Protected) | 39% Digital (Capital Protected) | ||
| 2 | 19% Express (Phoenix inclusi) (Cond. Capital Protected) | 17% Express (Phoenix inclusi) | 17% Express (Phoenix inclusi) (Cond. Capital Protected) | ||
| 3 | 13% Bonus cap | 16% Equity Protection | 14% Others Protection (Capital Protected) | ||
| 4 | 12% Equity Protection (Capital Protected) | 8% Bonus cap | 12% Equity Protection (Capital Protected) |
| 2023** | Q1 | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (in MLN €) | 5.572,47 | 5.984,03 | 6.229,10 | 7.978,70 | 25.764,30 |
| number of products placed | 376 | 328 | 355 | 487 | 1.546 |
| Top placed by product type | |||||
| 1 | 47% Digital (Capital Protection) | 58% Digital | 56% Digital | 62% Digital | 56% Digital |
| 2 | 20% Express (Pronenix included) (Cond. Capital Protection) | 16% Equity Protection (Capital Protection) | 14% Equity Protection | 12% Express (Phoenix included) | 14% Express (Phoenix included) |
| 3 | 16% Equity Protection | 12% Express (Phoenix included) (Cond. Capital Protection) | 11% Express (Phoenix included) | 9% Bonus cap | 13% Equity Protection |
| 4 | 8% Bonus cap (Cond. Capital Protection) | 6% Cash Collect (Phoenix excluded) (Cond. Capital Protection) | 9% Bonus cap | 7% Express (Phoenix included) | 8% Bonus cap |
| 2022** | Q1 | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (in MLN €) | 3.774,48 | 3.908.19 | 4.475,22 | 4.077,64 | 16.235,54 |
| number of products placed | 326 | 301 | 307 | 343 | 1.277 |
| Top placed by product type | |||||
| 1 | 48% Cash Collect (Capital Protection) | 36% Equity Protection | 47% Digital | 35% Equity Protection | 32% Digital |
| 2 | 19% Digital (Capital Protection) | 25% Digital (Capital Protection) | 24% Equity Protection | 34% Digital | 27% Equity Protection |
| 3 | 15% Equity Protection | 17% Cash Collect | 15% Cash Collect | 15% Cash Collect | 23% Cash Collect |
| 4 | 10% Express (Cond. Capital Protection) | 12% Express | 11% Credit Linked Note | 10% Credit Linked Note | 7% Credit Linked Note |
| 2021** | Q1 | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (in MLN €) | 2.271,23 | 2.421,53 | 2.138,63 | 2.677,56 | 9.508,95 |
| number of products placed | 260 | 280 | 230 | 286 | 1.056 |
| Top placed by product type | |||||
| 1 | 33% Cash Collect (Capital Protection) | 37% Cash Collect (Capital Protection) | 33% Cash Collect (Capital Protection) | 30% Express | 32% Cash Collect |
| 2 | 19% Digital (Capital Protection) | 26% Express (Cond. Capital Protection) | 26% Express (Cond. Capital Protection) | 27% Digital | 24% Express |
| 3 | 18% Bonus (Bonus Cap included) (Cond. Capital Protection) | 18% Digital (Capital Protection) | 19% Digital (Capital Protection) | 27% Cash Collect | 21% Digital |
| 4 | 12% Express (Cond. Capital Protection) | 10% Equity Protection (Capital Protection) | 11% Equity Protection (Capital Protection) | 6% Equity Protection | 9% Bonus (Bonus Cap included) |
| 2020** | Q1 | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (in MLN €) | 3.946,28 | 4.074,02 | 2.565,43 | 2.035,68 | 12.621,41 |
| number of products placed | 249 | 207 | 167 | 207 | 830 |
| Top placed by product type | |||||
| 1 | 33% Cash Collect Protected (Capital Protection) | 20% Cash Collect (Cond. Capital Protection) | 34% Equity Protection (Capital Protection) | 32% Equity Protection | 32% Equity Protection (Capitale Protetto) |
| 2 | 20% Equity Protection (Capital Protection) | 32% Equity Protection (Capital Protection) | 29% Digital (Capital Protection) | 20% Cash Collect (Capitale Cond. Protetto) | 27% Digital (Capitale Protetto) |
| 3 | 13% Express (Cond. Capital Protection) | 14% Cash Collect Protected (Capital Protection) | 19% Cash Collect (Cond. Capital Protection) | 20% Express (Capitale Cond. Protetto) | 22% Cash Collect (Capitale Cond. Protetto) |
| 4 | 13% Digital (Capital Protection) | 12% Digital (Capital Protection) | 11% Express (Cond. Capital Protection) | 12% Digital (Capitale Protetto) | 12% Express (Capitale Cond. Protetto) |
| 2019** | Q1 | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (in MLN €) | 5.128,73 | 4.467,05 | 3.765,05 | 3.804,79 | 17.165,62 |
| number of products placed | 208 | 223 | 112 | 281 | 824 |
| Top placed by product type | |||||
| 1 | 43% Digital (Capital Protection) | 20% Cash Collect (Cond. Capital Protection) | 27% Cash Collect (Cond. Capital Protection) | 38% Cash Collect (Cond. Capital Protection) | 23% Cash Collect (Cond. Capital Protection) |
| 2 | 24% Equity Protection (Capital Protection) | 20% Equity Protection (Capital Protection) | 22% Cash Collect Protected (Capital Protection) | 19% Digital (Capital Protection) | 19% Equity Protection (Capitae Protection) |
| 3 | 12% Cash Collect Protected (Capital Protection) | 17% Bonus Cap (Cond. Capital Protection) | 18% Equity Protection (Capital Protection) | 13% Express (Cond. Capital Protection) | 16% Digital (Capital Protection) |
| 4 | 11% Express (Cond. Capital Protection) | 12% Digital (Capital Protection) | 12% Bonus Cap (Cond. Capital Protection) | 10% Bonus Cap (Cond. Capital Protection) | 16% Cash Collect Protected (Capitale Protetto) |
| 2019** | Q1 | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (in MLN €) | 5.128,73 | 4.467,05 | 3.765,05 | 3.804,79 | 17.165,62 |
| number of products placed | 208 | 223 | 112 | 281 | 824 |
| Top placed by product type | |||||
| 1 | 43% Digital (Capital Protection) | 20% Cash Collect (Cond. Capital Protection) | 27% Cash Collect (Cond. Capital Protection) | 38% Cash Collect (Cond. Capital Protection) | 23% Cash Collect (Cond. Capital Protection) |
| 2 | 24% Equity Protection (Capital Protection) | 20% Equity Protection (Capital Protection) | 22% Cash Collect Protected (Capital Protection) | 19% Digital (Capital Protection) | 19% Equity Protection (Capitae Protection) |
| 3 | 12% Cash Collect Protected (Capital Protection) | 17% Bonus Cap (Cond. Capital Protection) | 18% Equity Protection (Capital Protection) | 13% Express (Cond. Capital Protection) | 16% Digital (Capital Protection) |
| 4 | 11% Express (Cond. Capital Protection) | 12% Digital (Capital Protection) | 12% Bonus Cap (Cond. Capital Protection) | 10% Bonus Cap (Cond. Capital Protection) | 16% Cash Collect Protected (Capitale Protetto) |
| 2018** | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 1.698,18 | 2.898,65 | 2.481,58 | 4.000,01 | 11.078,42 |
| number of products placed | 118 | 223 | 220 | 221 | 762 |
| Top placed by product type | |||||
| 1 | 38% Cash Collect | 36% Express | 27% Equity Protection (Capital Protection) | 34% Equity Protection | 23% Express |
| 2 | 21% Express (Cond. Capital Protection) | 17% Bonus Cap | 22% Express (Cond. Capital Protection) | 24% Digital | 22% Equity Protection |
| 3 | 15% Cash Collect Pretected (Capital Protection) | 12% Cash Collect Protection | 20% Bonus Cap (Capitale Pretection) | 18% Express | 16% Cash Collect |
| 4 | 11% Equity Protection (Capital Protection) | 12% Digital | 11% Digital (Capital Protection) | 18% Bonus Cap | 14% Cash Collect Protected |
| 2017 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 1.880,12 | 2.050,93 | 1.735,09 | 2.004,09 | 7.671,12 |
| number of products placed | 159 | 99 | 100 | 115 | 473 |
| Top placed by product type | |||||
| 1 | 43% Express | 43% Cash Collect Protected | 29% Cash Collect (Cond. Capital Protected) | 24% Equity Prot. (Capital Protected) | 27% Express (Cond. Capital Protected) |
| 2 | 26% Cash Collect Protected. (Capital Protected) | 19% Express | 17% Digital (Capital Protected) | 15% Express (Cond. Capital Protected) | 24% Cash Collect (Cond. Capital Protected) |
| 3 | 7% Digital (Capital Protected) | 10% Cash Collect | 16% Express (Cond. Capital Protected) | 13% Cash Collect Protected (Capital Protected) | 16% Cash Collect Protected (Capital Protected) |
| 4 | 6% Cash Collect (Cond. Capital Protected) | 9% Digital | 15% Equity Prot. (Capital Protected) | 13% Bonus Cap (Cond. Capital Protected) | 16% Equity Prot. (Capital Protected) |
| 2016 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 2.035,24 | 2.428,36 | 1.169,19 | 1.373.68 | 7.006,47 |
| number of products placed | 88 | 93 | 100 | 86 | 367 |
| Top placed by product type | |||||
| 1 | 43% Cash Collect Protected. | 43% Digital (Capital Protected) | 30% Digital (Capital Protected) | 35% Cash Collect Protected (Capital Protected) | 28% Cash Collect Protected (Capital Protected) |
| 2 | 16% Equity Prot. (Capital Protected) | 20% Bonus (Cond. Capital Protected) | 18% Bonus (Cond. Capital Protected) | 28% Express (Cond. Capital Protected) | 22% Digital (Capital Protected) |
| 3 | 14% Express (Cond. Capital Protected) | 13% Express (Cond. Capital Protected) | 16% Cash Collect (Cond. Capital Protected) | 16% Cash Collect (Cond. Capital Protected) | 15% Express (Cond. Capital Protected) |
| 4 | 12% Digital (Capital Protected) | 8% Equity Prot. (Capital Protected) | 14% Express (Cond. Capital Protected) | 43% Digital (Capital Protected) | 13% Bonus (Cond. Capital Protected) |
| 2015 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 2.646,02 | 3.583,52 | 1.750,92 | 2.666,84 | 10.646,80 |
| number of products placed | 113 | 156 | 134 | 132 | 535 |
| Top placed by product type | |||||
| 1 | 23% Express (Cond. Capital Protected) | 33% Express (Cond. Capital Protected) | 31% Express (Cond. Capital Protected) | 33% Equity Prot. (Capital Protected) | 29% Express (Cond. Capital Protected) |
| 2 | 24% Bonus (Cond. Capital Protected) | 18% Bonus (Cond. Capital Protected) | 14% Equity Prot. (Capital Protected) | 31% Express (Cond. Capital Protected) | 22% Digital (Capital Protected) |
| 3 | 18% Equity Prot. (Capital Protected) | 6% Equity Prot. (Capital Protected) | 2% Bonus (Cond. Capital Protected) | 18% Credit Linked (Cond. Capital Protected) | 14% Bonus (Cond. Capital Protected) |
| 4 | 1% Credit Linked (Cond. Capital Protected) | - | - | - | 14% Equity Protection (Capital Protected) |
| 2014 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 2.584,18 | 2.493,13 | 1.915,30 | 1.171,10 | 8.163,71 |
| number of products placed | 127 | 122 | 86 | 94 | 429 |
| Top placed by product type | |||||
| 1 | 33% Express (Cond. Capital Protected) | 47% Equity Prot. (Capital Protected) | 60% Equity Prot. (Capital Protected) | 33% Equity Prot. (Capital Protected) | 39% Equity Prot. (Capital Protected) |
| 2 | 19% Equity Prot. (Capital Protected) | 18% Excpress (Cond. Capital Protected) | 29% Express (Cond. Capital Protected) | 31% Express (Cond. Capital Protected) | 27% Express (Cond. Capital Protected) |
| 3 | 14% Credit Linked (Cond. Capital Protected) | 15% Bonus (Cond. Capital Protected) | 4% Bonus (Cond. Capital Protected) | 8% Bonus (Cond. Capital Protected) | 8% Bonus (Cond. Capital Protected) |
| 4 | - | - | - | - | 8% Credit Linked (Cond. Capital Protected) |
| 2013 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 1.175,10 | 1.502,43 | 1.198,65 | 2.451,08 | 6.327,27 |
| number of products placed | 86 | 110 | 73 | 92 | 361 |
| Top placed by product type | |||||
| 1 | 71% Express (Cond. Capital Protected) | 38% Express (Cond. Capital Protected) | 43% Equity Prot. (Capital Protected) | 53% Equity Prot. (Capital Protected) | 36% Express (Cond. Capital Protected) |
| 2 | 20% Digital (Cond. Capital Protected) | 18% Digital (Capital Protected) | 37% Express (Cond. Capital Protected) | 22% Digital (Capital Protected) | 32% Equity Prot. (Capital Protected) |
| 3 | 2% Bonus (Cond. Capital Protected) | 18% Bonus (Cond. Capital Protected) | 9% Digital (Capital Protected) | 18% Express (Cond. Capital Protected) | 19% Digital (Capital Protected) |
| 4 | 1% Equity Prot. (Capital Protected) | 13% Equity Prot. (Capital Protected) | - | - | 6% Bonus (Cond. Capital Protected) |
| 2012 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 503,58 | 764,96 | 422,95 | 840,29 | 2.531,79 |
| number of products placed | 54 | 81 | 61 | 77 | 273 |
| 2011 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 860,64 | 910,51 | 347,46 | 653,80 | 2.772,41 |
| number of products placed | 66 | 83 | 51 | 60 | 260 |
| 2010 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 1138,77 | 949,70 | 1081,85 | 861,00 | 4.031,33 |
| number of products placed | 60 | 61 | 60 | 60 | 241 |
| 2009 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 379,74 | 631,28 | 760,72 | 944,74 | 2.716,48 |
| number of products placed | 78 | 65 | 59 | 70 | 272 |
| 2008 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 655,25 | 354,86 | 149,71 | 137,52 | 1.297,34 |
| number of products placed | 78 | 65 | 41 | 24 | 208 |
| 2007 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 1.018,52 | 572,41 | 461,41 | 713,82 | 2.766,16 |
| number of products placed | 84 | 90 | 89 | 163 | 426 |
| 2006 | 1Q | Q2 | Q3 | Q4 | TOTAL AMOUNT |
|---|---|---|---|---|---|
| placed (MLN €) | 215,41 | 418,42 | 221,08 | 944,10 | 1.799,01 |
| number of products placed | 32 | 36 | 33 | 62 | 163 |
* each quarterly data are referred to ACEPI's members that were joining the association in that quarter
** private placement included (since 2018)