Italy’s asset management flows positive in Q3, Assogestioni
During the third quarter of 2012, the Italian asset management industry posted €1.4bn inflows, according to data released today by industry association Assogestioni.
At the end of September, Italy’s asset managers had €992bn assets under management, equally divided between collective management and portfolio management.
Open funds attracted €3bn inflows during the period, with a good performance of bond and flexible funds. Foreign-domiciled funds attracted €5bn inflows during the quarter.
Portolio management posted instead €2bn outflows, while inflows were positive (€682m) for pension funds.
The positive performance follows two quarters of outflows for the Italian industry.