Italy’s AM industry posted €6.3bn net inflows in July
According to industry association Assogestioni’s data, the Italian AM industry has seen net inflows of €6.4bn, bringing the total amount to €44.7bn since the beginning of 2013.
The industry has seen the seventh consecutive positive month, the association also said. The positive result brought the total AUM to €1,269bn.
Open-end funds and institutional funds attracted the majority of inflows, respectively of €3.5bn and €2.5bn.
Collective management posted €3.6bn and accounted for total net worth of above €569bn, 45% of total AUM. Assets invested in portfolio management came at above €700bn, 55% of total AUM.
Foreign domiciled products posted inflows of above €2.2.bn, while Italian domiciled products posted €1.3bn net inflows.
Flexible funds were positive, with net inflows of €2.2bn. Bond, stock and balanced funds were also positive, with total net inflows of respectively €584m, €740m and €193m.