Italy’s AM sector posts further record
The Italian asset management industry registered €6.4bn net sales in August, industry association Assogestioni has revealed.
Since the beginning of the year, asset managers saw total net inflows of €111bn, €23bn above the results achieved in the same period of 2014.
Open-ended funds drove the positive results with €4.3bn net inflows, while institutional mandates registered €1.8bn, Assogestioni reported.
Industry’s total assets came at €1,718bn, €893bn (52%) of which is invested in portfolio management, while €824bn (48%) is in collected management.
Within the open-ended funds category, flexible funds scored the highest sales with €3.7bn net inflows, followed by monetary funds with €1.7bn and balanced funds with €192m.
Among Italy domiciled asset managers, Pioneer Investments recorded the highest levels of sales with €1.6bn net inflows, followed by the Intesa Sanpaolo Group (Eurizon Capital and Fideuram) €1.5bn and the Generali Group with €1.1bn.