Second quarter flows, no U-turn for Italy’s asset management industry
The second quarter of 2012 did not bring to the Italian asset management industry the U-turn in flows that many hoped for.
As reported this week by Assogestioni, between April and June the biggest industry players suffered overall outflows for €4.5bn, despite positive flows to bond and foreign funds.
The Q2 results published by the industry body reported outflows for seven of the top 10 players in the market, with biggest Italian groups coming out of the chart as the most severely hit.
Intesa Sanpaolo group, still in first place for assets under management (€178.640bn) reported outflows for €2,8bn.
The performance was mirrored by Generali (€138.7bn under management), with outflows at €1.7bn and the third group on the podium, Pioneer Investments, which reported €2.2bn outflows.
In the Top 10, positive inflows were posted by Poste Italiane (€733,4m), Axa (€418,6m) and Amundi (€721,5m).
Only Dexia, number 35 in the table for assets under management, managed to bread the €1bn mark, with €1.61bn inflows during the period. At the end of June, the group had € 3.253bn assets under management.
Clicke here to access the full data – [asset_library_tag 5822,Mappa trimestrale del risparmio gestito]