Although the Italian asset management industry reached record AUM of €1.2trn in November 2012, industry body Assogestioni believes further growth is possible the industry will grow further if firms can guide investors to most suitable asset allocation.
Finally, in October, Generali, one of the main players in the market, completed the merger between assets managed in Germany and France, with a substantial increase in the overall volume.
This accounts for the negative performance of the company in October. However, it was the first time that an Italian player moved assets to Italy Generali relying on new provisions introduced by the European passport regulation.
Assogestioni warming up for Salone 2013
There are only three months to go until the annual event Salone del Risparmio, which Assogestioni will host in Milan from 17-19 April 2013.
More than 40 sponsors are expected to welcome individual and retail investors at Bocconi University, with a busy events and conferences schedule.
The association has already secured sponsorships from about 40 companies, among which are: Axa Investment Managers Italia Sim SpA, Banca Fideuram, Credit Suisse, Fineco Bank SpA, Morgan Stanley Bank International Ltd Milan Branch, Pimco Europe Ltd Italy, State Street Bank SpA, UBS, Aletti Gestielle Sgr SpA, Deutsche Bank AG, Fundstore.it, Lyxor International AM, M&G International Investments Ltd, Natixis Global Asset Management, Zenit Sgr, Amundi, Carmignac, Dnca Finance, Etica Sgr SpA, Euromobiliare, Financière de l'échiquier, HSBC Global asset management, Janus Capital International Ltd, Legg Mason Global AM, Online Sim, Schroders Italy Sim SpA, Selectra Investments Sicav, Skandia Vita SpA, Unicredit Corporate e Investment banking, Vontobel Europe
The main partners of the event are Aberdeen, Anima, Arca Sgr, Bnp Paribas, Eurizon Capital, Invesco, JP Morgan, Pictet, Pioneer Investments and Ubi Pramerica.
In 2012, 11,700 people visited the Salone event over three days.
|November 2012 net inflows to Italy’s top 10 players €m|
Gruppo generali 1,175.5
|Gruppo intesa Sanpaolo 273.1
Eurizon Capital 175.7
Open-end funds 118.7
Retail portfolio management -6.9
Institutional portfolio management 63.9
Banca Fideuram 97.4
Open-end funds 67.8
Retail portfolio management -35.6
Institutional portfolio management 65.2
Gruppo Mediolanum -302.2
|AM Holding 263.2
Open-end funds 213.8
Retail portfolio management -6.7
Institutional portfolio management 56.1
Open-end funds 3.7
Retail portfolio management 17.2
Institutional portfolio management -142
|Poste Italiane 508.7
Open-end funds 287.7
Institutional portfolio management 221
|Gruppo UBI Banca (1) 48.1
Open-end funds 37.3
Retail portfolio management 7.1
Institutional portfolio management 3.7
Open-end funds -8.3
Institutional portfolio management 16.7
|Amundi Group 280
Open-end funds 181.4
Retail portfolio management -14.5
Institutional portfolio management 113.6