Azimut Group posted €190m total inflows in September
The Italian asset manager currently has total AUM of €19.7bn, +12.5% compared with the beginning of the year.
The Azimut Group posted total inflows of €190m in September, for a total of €2.1bn since the beginning of the year.
Total assets under management stood at €19.7bn, +12.5% compared with the beginning of 2013, for a total of €22.1bn, including assets under administration.
In September, eight new products were launched as part of the Luxembourg based umbrella fund AZ Fund 1, including a number of Ucits funds never launched in Europe before. The products were: Lira Plus (market neutral strategy on the Turkish Lira), Global Sukuk (investing in “sukuk” bonds at fixed and variable interest rates that respect the Sharia principles), and Hybrid Bonds (investing in hybrid instruments). The latter has already posted above €70m inflows in the first two weeks since the launch, Azimut said.
The recruitment of new financial advisers in the first nine months of 2013 remains positive with 120 new additions. At the end of September, the networks Azimut Consulenza, AZ Investimenti and Apogeo accounted for 1465 units.
Furthermore, the local Turkish regulator has approved the increase in the stake of the distribution company Global Securities held by AZ International Holdings from the current 5% to 10%.
Pietro Giuliani (pictured), Azimut’s chairman and CEO, commented: “The launch of three new products that nobody before us brought to the European market, two of which managed in emerging countries, demonstrates that Italian-based companies can excel on international markets and create unique investment opportunities for clients”