Italy’s asset managers report €4.5bn Q2 outflows
During the second quarter of the year, the Italian asset management industry suffered overall outflows for €4.5bn, according to data published by Assogestioni, the association of Italian asset managers.
Despite the net results, flows remained positive for foreign-domiciled funds (€4.4bn) and bond funds (€3.2bn).
Inflows to bond products have been €8.8bn since the beginning of the year.
Assets managed by the industry stood at €956bn at the end of the quarter.
Open-ended funds weighted for €434bn, the 67% invested in foreign funds.