The Azimut Group recorded total net inflows of €452m in October 2016, reaching €5.6bn since the beginning of the year.
The net inflows figure of this month benefited from the consolidation of Aspire, acquired through Logiro which is already part of AZ NGA Group, and TKT, acquired through Wealthwise, also already part of AZ NGA.
In October the group continued its developments on the product side with the launch of Sestante Diversified Fund in Australia. The fund has also been included in the Colonial First Wrap platform, which is one of the largest in the region, allowing local practices operating through Colonial First Wrap to subscribe the fund.
Total assets under management stood at €34.4bn, and including assets under administration reached €42.1bn.
“We close the month of October with a very positive result, confirming the group’s enthusiasm and the quality of our business model. The figures benefited from the strengthening of our overseas business, both organically and through acquisitions, as well as from investments made on our financial partners, enhancing their competencies and broadening the range of products and services we offer,” said Sergio Albarelli, Azimut’s CEO.