The Azimut Group recorded total net inflows of € 354m in July 2015, bringing total net inflows since the beginning of the year to reach € 4.3bn.
€373m of the total inflows in July went into managed assets, €200m of which came from Luxembourg funds AZ Fund 1 and AZ Fund Multi Asset.
Total assets under management stood at € 30.3bn, and including assets under administration reached € 35.1bn.
Lastly, in July, AZ Andes was established in Chile, aimed at offering Azimut’s product range to HNWI, family / multi-family offices, banks and institutional investors of the Andean region (mainly pension funds in Chile, Colombia and Peru). Pension funds of the three major markets, Chile, Peru and Colombia, have AuM for ca. $281bn (€251bn), while total AuM in the asset management sector reach ca. $860bn (€787bn).
This opportunity comes from the increasing interest by Andean institutional investors towards international asset classes in order to diversify their portfolio and look for other geographies and asset classes outside their region. The project is a greenfield that follows Azimut’s previous partnership models with a team of local sales, and does not exclude a potential evolution into an asset management company in order to launch local vehicles taking benefit from the new fiscal regime to be implemented in 2017.
Pietro Giuliani (pictured), Azimut’s Chairman and CEO, comments: “Despite competitors activism on the market aimed at riding this summer’s leitmotif on performance fees, July’s numbers confirm the strength and consistency of our inflows. In fact, in seven months, net inflows exceeded 4 billion euros, showing that our investment solutions, the advisory services rendered by our financial partners and the performance delivered by our fund managers, yet again above the industry, continue to meet our clients’ needs.
“In particular, this month’s results have been linked to organic growth supported by product innovation and our open platform. We are confident that, notwithstanding the complexity and volatility of the market, this positive trend can be confirmed in the next months. Lastly, with the set-up of AZ Andes, we are substantially covering LatAm on the distribution side, and, over time, also on the production side, in line with our business model.”