Italy’s asset management industry posted €9bn net inflows in December 2014, ending the year with total AUM of some €1,600bn, industry association Assogestioni has revealed.
The results marked a 14-year high for open-ended funds, which ended the year with a surplus of €87bn from 2013.
Total net inflows for the year reached some €129bn, Assogestioni also said.
Discretionary portfolio management’s assets came at €3.4bn net inflows in December, €2.6bn of which were institutional and €752m retail. The compartment posted €41bn net inflows since the beginning of 2014.
The asset management league is still led by Gruppo Generali, which was reported as holding total AUM of €414bn as of the end of December. Gruppo Intesa Sanpaolo followed with €304.5bn and Pioneer Investments – UniCredit Group came third €127.7bn.