Open-ended funds lead Italy’s AMs success
Italy’s AM industry posted total net inflows of €23bn in March, for a total of €52bn in Q1.
The industry AUM hiked to €1,700bn, association Assogestioni has revealed. Fourty-seven percent of the total amount is invested in collective management schemes, while the remaining 53% is in institutional mandates, slightly less than in previous months.
The latter posted net inflows of €7bn in March, almost equally distributed between retail (€3.7bn) and institutional mandates (€3.3bn).
Open-ended funds topped the chart with €15.5bn net inflows in March, €7bn of which came from flexible funds; €4.5bn from fixed income funds; €2.3bn from equity funds and €2m from balanced funds.
Domestic funds dominated over foreign domiciled funds with €3.9bn against €11.6m total net inflows.