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.

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