Azimut confirms positive April inflows at €123m

Independent asset manager Azimut Holding reported positive net inflows of €123m for April, of which €97m for managed assets.

Almost €90m come from investments in Luxembourg-based funds AZ Fund 1 and AZ Fund Multi Asset, according to a statement released today by the group.

Since the beginning of the year, Azimut reported inflows of more than €700m. Total assets under management stood are €16bn, reaching €18bn when including assets under administration.

“In the first quarter of 2012, we achieved record net inflows of more than €600m, and also April confirms this positive trend. Moreover, the weighted average performance of our funds, net of costs, reached 4.5%, above both the risk free rate as well as the Italian industry index since the beginning of the year,” said Azimut’s chairman and chief executive Pietro Giuliani.

He added: “These results are thanks to a number of elements, first and foremost the ability of our production and distribution teams to properly face volatility in today’s market.

“Furthermore the increase in product range with dedicated solutions aiming at protecting our client’s capital, such as Az Infinity Life, which bundles together the client’s portfolio in order to better manage the passing of assets on to the next generation, is another important point that will help us to continue providing such results.”

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