Italy’s AM led by open-ended funds
Italy’s asset management industry ended the month of April with €15.8bn net inflows, industry association Assogestioni has revealed.
Open-ended funds contributed with €11.6bn to the total net result, taking the industry AUM to €1,735bn.
At present 47.5% of total AUM is invested in collective management while the remaining 52.5% is invested in institutional mandates. Portfolio management posted €4.2bn net inflows in April, of which €3bn came from retail clients and some €1.3bn from institutional mandates.
Flexible funds reported the best performance with total net inflows of €5.6bn; they were followed by fixed income funds with net inflows €4.6bn and balanced funds with €2bn.
Foreign domiciled funds registered a better performance than domestic funds, with net inflows of €7.5bn versus €4.1bn.