Italy’s flows turn positive in August, Assogestioni finds
The Italian asset management industry experienced positive flows in August, posting €1.8bn net inflows during the month according to data published today by Assogestioni, the association of Italian asset managers.
Assets managed by the industry stood at €977bn at the end of the month, increased from €961bn at the end of July.
According to Assogestioni, the increase was caused by inflows, management activities and the positive performance of financial markets.
Inflows were positive for all investment classes. Foreign funds posted €1.6bn euro inflows, the same volume of inflows reported to bond funds.
Meanwhile, flexible funds posted €238m inflows. The positive performance of the industry followed €1.3bn negative outflows reported at the end of July.