Assogestioni: 70% of Italy’s investments are in foreign mutual funds
Italy’s asset management industry posted €5.25bn inflows in Februay, with €11.8bn positive inflows since the beginning of the year, according to data published by the industry association Assogestioni.
In February, open funds have been the main driver of the positive performance, posting €4.5bn inflows. Bond funds and flexible funds followed with €2.5bn inflows and €1.87bn respectively.
Institutional portfolio management services posted €728m inflows, while the retail sector suffered from €312m outflows.
In February, foreign funds were able to attract €3.32bn investments.
Alessandro Rota, head of research at Assogestioni, stressed that in Italy more than 70% of mutual funds investments are currently allocated to foreign funds.