Italy’s asset management industry posted total net inflows of €134bn in 2014, €32bn of which only in Q4, industry association Assogestioni has revealed.
The industry’s total AUM hit record level of €1,585bn, the data showed.
Collective schemes drove the positive results with net inflows of €19.7bn throughout the whole year.
In Q4, portfolio management also saw significant inflows of €12.4bn, while discretionary portfolio management were even at €41.4bn, €25.3bn of which came from insurance products and only €6.6bn from retail clients.
Sicavs were investors’ favourite products in 2014 with total net inflows of €91.5bn in 12 months.
Flexible funds topped the chart with total inflows of €42.4bn in 2014, followed by bond funds (+€31.6bn) and balanced funds (+€11.5bn). Equity funds also saw positive overall inflows of €7.6bn throughout the year, despite registering outflows of €186m in the last quarter of 2014.