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.