Italy's asset management industry posted €7.1bn inflows in May, industry association Assogestioni revealed.
Italy’s asset management industry posted €7.1bn inflows in May, industry association Assogestioni revealed.
Italy’s asset management industry continued to see positive flows in May, reaching total AUM of €1,428bn.
Since the beginning of the year, the industry posted total net inflows of €43.6bn, Assogestioni’s report also showed.
Of the €7.1bn inflows of May, €6.1bn came from open-ended funds, which proved to be the main driver of the industry once again.
Looking at a more specific breakdown, flexible funds posted the highest flows with total net inflows of €4.3bn, while balanced funds came second with €887m.
Bond funds followed closely with €836m net inflows in May; while hedge and equity funds were also positive, respectively with €318m and €292m total net inflows.
Of the total €1,428bn AUM, €776bn (54.3%) are invested in portfolio management, while the remaining €653bn (45.7%) are in collective management, Assogestioni also said.
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