Italy’s AM industry confirms positive start of the year
Since the beginning of 2013, Italy’s asset management industry has confirmed month after month a positive trend in terms of asset inflows. According to the latest data published by industry association Assogestioni, in March the sector attracted positive flows of 7.25bn.
Since the beginning of 2013, inflows have exceeded 19.07bn.
This is clear contrast with the outflows of 11bn which the industry suffered during the last part of 2012.
The positive results have been mainly sustained by long term funds, which posted 13.04bn inflows in the first three months of the year.
Bond and flexible funds also delivered positive results, with 6.41 and 6.16bn inflows respectively.
Overall, data published in March by Assogestioni suggested an industry record. Assets managed by Italian players reached 1225bn against 1210bn in February, roughly split between portfolio and collective management.