Italy posts €4.1bn net inflows in November
Italy’s asset management industry posted €4.1bn total net inflows in November, industry association Assogestioni has revealed.
The positive result brought total net sales since the beginning of the year to €130bn.
Total industry AUM stood at €1,835bn at the end of November 2015.
Open-ended funds were confirmed as the investors’ favourite option by contributing €3.3bn to the total net sales of the month.
Looking at fund categories, flexible funds were the best performers with €2.3bn net inflows, followed by equity funds with €996m and monetary and balanced at €544m and €448m respectively.
On the back of a low yields scenario in fixed income, bond funds saw outflows of €965m, which almost matches the positive performance of equity funds.
The Generali Groups is still the market leader with €440.2bn in assets, followed by the Intesa Sanpaolo Group with €290.1bn and Pioneer Investments with €126.5bn.