Italy’s AM industry keeps steady pace

The Italian asset management industry posted €5bn net inflows in October, industry association Assogestioni has reported.

Inflows came in steadily since the beginning of the year, coming at a net total of €126bn.

Total industry AUM currently stands at €1.8trn, 51% of which is invested in portfolio management and 49% in collective management.

After a slowdown in September, open-ended funds returned to be the drivers of the positive results with €2.9bn inflows, while institutional mandates reported net sales of €2.2bn.

Looking at fund categories, flexible funds were the best performers with €2.8bn, followed by equity funds with €1.6bn and balanced funds with €269m.

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