Italy’s AM industry posts best results since ’99
Italy’s asset management industry posted total net inflows of €8.6bn in September, bringing the industry total AUM to €1,522bn, industry association Assogestioni has revealed.
Since the beginning of the year, asset management products brought to the industry €97bn, record inflows seen since 1999, Assogestioni also said.
Looking at the sector breakdown, open-ended funds posted €6.1bn in September; while institutional mandates saw net inflows of €1.7bn and retail mandates of €782m.
More than half, 54%, of total assets are invested in portfolio management, with the remaining 46% being in collective management.
Flexible funds were the best performers, with total net inflows of €3.2bn, followed by bond funds with €2.1bn; balanced funds with €856m and equity funds with €186m.
Unlike previous months, domestic funds posted higher flows (€3.8bn) compared with foreign-domiciled funds (€2.3bn).