Open-ended funds drive flows to Italy’s AM industry
Italy’s asset management industry posted €7.1bn inflows in May, industry association Assogestioni revealed.
Italy’s asset management industry continued to see positive flows in May, reaching total AUM of €1,428bn.
Since the beginning of the year, the industry posted total net inflows of €43.6bn, Assogestioni’s report also showed.
Of the €7.1bn inflows of May, €6.1bn came from open-ended funds, which proved to be the main driver of the industry once again.
Looking at a more specific breakdown, flexible funds posted the highest flows with total net inflows of €4.3bn, while balanced funds came second with €887m.
Bond funds followed closely with €836m net inflows in May; while hedge and equity funds were also positive, respectively with €318m and €292m total net inflows.
Of the total €1,428bn AUM, €776bn (54.3%) are invested in portfolio management, while the remaining €653bn (45.7%) are in collective management, Assogestioni also said.
The Fund Selector Roundtable Spain takes place on 16 September 2014 at the ME Madrid Reina Victoria.
Click here for further details and to register: http://events.investmenteurope.net/spain
To connect with peers before the event visit: https://www.linkedin.com/groups?gid=8113576