Assogestioni: Italy’s AM industry registers highest inflows in 14 years
The Italian asset management industry ended May with strong inflows, according to industry group Assogestioni.
Italy’s asset management industry posted €8.7bn inflows, reaching overall assets under management of €1,264bn.
This represents an overall record for the industry, with the previous peak of €11bn reached in 1999.
Asset under management are divided between portfolio management (55%) and collective management (45%).
Foreign domiciled funds had a strong performance, with €6.4bn inflows. Domestic funds posted €2.5bn inflows.
Bond funds posted €5.7bn inflows, with more than €14bn invested in the asset class since the beginning of the year.
May was also positive for flexible funds, with €3.6bn inflows. Savers’ interest returned to focus on monetary funds, which managed to attract €329m.