Italy’s AM keeps up the pace
Italy’s asset management industry posted €20bn in February, not only keeping up the pace with the record inflows of 2014 but doubling the average monthly inflows of last year, which was around €10bn per month.
Mutual funds proved to be the leaders by contributing with €14bn to the total net inflows. Total industry’s AUM reached €1,675bn, 54% of which in discretionary portfolio management and 46% in collective schemes.
Discretionary portfolio management services posted net inflows of €5.9bn, followed by retail portfolio management with €3.3bn and institutional portfolio management with €2.6bn.
Looking at different fund types, flexible funds led the way among collective investment schemes by posting total net inflows of €5.5bn. Bond funds also proved successful with €4.3bn net inflows, followed by equity funds with €2.3bn and balanced funds with €2.1bn.