Mutual funds still leading the way in Italy’s AM assets growth – Assogestioni

Mutual funds posted €3.9bn, but the whole industry saw outflows of €1.5bn due to the negative performance of portfolio management.

Flexible, balanced and equity funds posted positive flows in January of €3.5bn, €1.2bn and €728m respectively.

Unlike previous months, Italy-domiciled funds topped the list of investors’ choice with €2.1bn inflows. However, following “internal operations”, portfolio management saw significant outflows of €5.4bn, dragging the overall industry’s result down to -€1.5bn.

The industry’s overall AUM was of €1,335bn at the end of January, 55% of which was invested in portfolio management (€731bn, €634bn of which are invested in institutional portfolios) and the remaining 45% was in asset management (€603bn, €560bn of which are invested in open-ended mutual funds), Assogestioni also said.

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