Italy’s AM industry posts €4.3bn December outflows
In December, the Italian asset management industry suffered outflows of €4.3bn, according to data released today by industry body Assogestioni.
Despite a positive performance of collective management, which posted €200m inflows, €4.6bn outflows from portfolio management led to an overall negative month for the industry.
Meanwhile, assets managed by the industry reached €1.2trillion at the end of the year.
In December, Italian domiciled funds saw inflows of €51m, while foreign funds posted €150m inflows.
Open and closed funds accounted for 44% of the overall assets managed by the industry.
Investors also showed a strong appetite for bond funds, which posted €2.1bn flows during the month. Flexible funds attracted €480m inflows.