Italy’s alternative UCITS at €3.5bn assets

Alternative UCITS funds continued to grow and to post positive inflows during the fourth quarter of 2012, with €7.7bn inflows in 2012 for single manager products, according to data released by MondoAlternative, an Italian provider of financial information specialized on alternative investments.

Meanwhile, during the same period funds of funds suffered redemptions of €121.1m.
Of the 502 alternative UCITS funds monitored by MondoAlternative, which based the research on its Alternative UCITS funds database which includes qualitative and quantitative information on the products, 338 were authorized for sale in Italy at the end of December.

In Italy, 20 asset management companies manage 38 single manager products and 9 funds of alternative UCITS funds, for total assets of €3.5bn.

Kairos International Sicav Selection (Long/short equity) is the biggest single manager fund with €325m, followed by PRIMAstrategia Europa Alto Potenziale (€221m, Long/short equity) and Kairos International Sicav Dynamic (€200m, Macro).

Prima Flex 50 leads the Fund of funds ranking by assets under management, with €369 Euro million, followed by Kairos International Sicav Multi Strategy Ucits (€52m) and Tages Capital Sicav Global Alpha Selection (€34m).

According to a survey run by the research firm on 56 asset managers which use UCITS funds, Italian investors control the 17.6% of the European assets of the sector.

Moreover, MondoAlternative estimates that total assets invested in alternative UCITS funds by Italian investors are now more than €10bn. Institutional investors represent the largest share, 52.7%, while private investors control 44% of the total. The remaining 3.3% is seed money.

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