Italy’s independent asset manager Azimut recorded total net inflows of €507m in January 2017, which is down by 29.7% from December 2016 and by 23.8% year-on-year.
Total assets under management stood at €36.1bn, and, including assets under administration, reached €44.2bn at the end of January. This is slightly up from €35.8bn AUM and €43.6bn AUA reached in December 2016. Year-on-year the increase was 17.9% and 22% respectively.
Sergio Albarelli, Azimut’s CEO (pictured), commented: “After an excellent 2016, also the new year started strong with over €500m of net inflows thanks to a solid and sustainable business model.”
“The group also confirmed its ability to introduce unique products for clients, with the latest launch of the closed end fund IPO Club (€120m of AUM), aimed at supporting and investing in Italian excellences up until their IPO,” Albarelli added.