Italy’s AM industry poised to grow in 2013, Assogestioni

Just before the end of 2012, the outlook of Italy’s asset management industry turned more positive, as the industry managed to invert a trend of negative outflows which marked most of the year, posting about €1bn inflows in November.

According to data released monthly by industry association Assogestioni, November was the fourth month of the year in which flows were positive, following positive flows in March, August and September, and this suggests that the industry is slowly moving towards a balance.

In November, Italy’s asset management industry posted €852m inflows, reaching overall assets under management of €1196bn.
Asset under management were almost equally divided between portfolio management (56%) and collective management (44%).

In a recent interview with the Italian press, Domenico Siniscalco, chairman at the association, said that having reached €1200bn under management, a record since 2007 when the industry peaked at €1192bn, and that the industry is poised for further growth in 2013, in particular if domestic retail investors will value and adopt a long term investment strategy based on a tailored use of mutual funds.

According to Assogestioni, which is getting ready to host its annual asset management event “Salone del Risparmio” in April 2013, industry players will be faced with two main challenges in 2013: strengthening the relationship between saving and investments and educating Italian investors on pension plans.

Moreover, the renewed outlook of stability and confidence will have to be consolidated through a further development of “individual saving plans” (piani individuali di risparmio) introduced by a draft law which is waiting for ratification.

Meanwhile, Assogestioni defines the relationship between saving and investments as an “open construction side”.

The €1200bn assets managed by the industry need to be channelled on projects of development, and the association called for an intervention of the government which will be formed in February on the topic.

On March 5, Investment Europe will host a bond forum in Milan. 
Click here to check all the event’s details.


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