Azimut reports €6.1m net inflows for May
Independent Italian asset manager Azimut Holding reported positive net inflows of €6.1m in May, down from €123m in April.
The decrease was caused by negative market sentiment and poor performance of the stock market, the company said.
Positive inflows for assets under management were €17m over the month. Flows on this basis were €730m since the beginning of the year.
Total assets under management including assets under administration stood at €17.7bn at the end of May.
“Despite a very negative month for financial markets, we recorded positive inflows for May, which confirms the effectiveness of our model based on management and distribution,”said Azimut’s chairman and chief executive Pietro Giuliani (pictured).