What does the increase in assets under management (AUM) to €1.60 billion indicate about fee income and future revenue streams?

The €33 million jump in AUM to €1.60 bn signals a near‑term boost to L H V’s fee‑based earnings. The firm’s management‑fee model is largely linear – a larger asset base generates higher collection fees, performance‑based commissions, and ancillary services (custody, reporting, advisory). Assuming L H V’s fee‑take remains steady (historically around 0.4‑0.5 % of AUM), the extra €33 m should translate into roughly €130‑€165 k of additional recurring fee income for the quarter, and about €600‑€800 k on an annualised basis. Because fees are less volatile than interest‑rate spreads or loan‑loss provisions, this incremental AUM adds a more stable, recurring revenue component that can cushion the group if loan‑portfolio growth slows or credit costs rise.

From a trading perspective, the AUM lift reinforces the “growth‑driven” narrative that underpins L H V’s recent share‑price rally. The market is already pricing a modest premium on the stock (sentiment +60), but the new AUM data suggests the revenue runway will stay positive even if loan‑margin compression or higher funding costs erode net interest income. Technical charts show the stock holding a tight range just above its 50‑day moving average, with the next resistance around €5.30 (previous high). A breakout above that level with volume would confirm that the market is internalising the extra fee income as a catalyst for higher earnings per share. Until then, a “buy‑on‑dip” around the current level (≈ €5.00) with a stop‑loss just below the 20‑day moving average (≈ €4.78) offers a risk‑controlled way to capture upside from the expected revenue uplift.