Italy’s AM industry continues to grow
The Italian asset management industry posted €26.7bn net inflows in Q1, according to industry association Assogestioni.
Most of the inflows (€24bn) came from banks; financial advisers contributed a further €2.6bn.
By the end of March, total industry AUM were valued at €1.85trn, 52% of which was invested in portfolio management and 48% in collective management.
Open-ended funds recorded €12.9bn inflows, while institutional mandates reported inflows of €13.8bn.
Looking at fund categories, bond funds accounted for 40% of total AUM, while flexible funds made up 25% and equity funds 22%.