For the fourth consecutive month, Italian asset management association Assogestioni has registered positive inflows to the industry - of €6.9bn.
For the fourth consecutive month, Italian asset management association Assogestioni has registered positive inflows to the industry – of €6.9bn.
Assogestioni said the latest monthly inflows took total subscriptions from the beginning of 2013 to €27bn.
As Assogestioni’s head of research Alessandro Rota explains, foreign funds have attracted more than €3.3bn, while Italian funds have attracted more than €2bn.
Bond funds attracted €3bn, as well as flexible funds, while balanced funds collected a total of €1bn.
“This positive data, despite the difficult economic situation in Italy, reflect the changed mood in the international markets and banks’ new commercial policy,” head of research Alessandro Rota explained.
“Two of the biggest four asset managers [by assets gathered] are Italian – Generali and Eurizon Capital – and they both managed to attract €1.2bn; while the other two are JP Morgan (€500m) and Franklin Templeton (€1bn),” Rota added.
In interview to Italian financial newspaper IlSole24Ore, Assogestioni’s CEO Domenico Siniscalco said that funds could be a resort for Italian firms’ recovery.
“With little public resources and a lively financial market, a good use of asset management could really make the difference,” Siniscalco said to the Italian newspaper.
Watch the video with Alessandro Rota’s further comments on Assogestioni’s report