The Italian asset management industry posted positive flows of €12.7bn in August, industry association Assogestioni has revealed.
The positive result brought total fund sales to a net total of €88.4bn since the start of the year, with the total AUM going up to €1,510bn (€1,480bn in July).
54% of total AUM is invested in portfolio management while 48% is in collective management, Assogestioni also said.
The sector breakdown mirrored that of previous months, with flexible funds leading the chart by posting +€2.9bn, followed by bond funds with positive net inflows of €2.5bn.
Monetary, balanced and equity funds also posted positive results respectively of €1.5bn; €641m and €49m.
Between foreign-domiciled and domestic funds, the former have scored a better result with €4.6bn against €3bn.