Italian asset management industry received €3.6bn of net new money just in November, which raised to €63bn the figure for the year up to that date, according to Assogestioni.
From the annual figure, collective management deposits amounted to around €1.6bn while portfolio management totalled €2.1bn.
Assets under management of investment funds in Italy amounted to €2.28trn at the end of November.
Net subscriptions of open funds reached € 1.2bn under the push of long-term funds (+ 2.4bn). Fixed income funds topped the list with €942m of net new money, followed by balanced products up by €697m, by equity funds with €643m more and by flexible funds with €246m of net new money in the same period.
Assogestioni is the Italian investment management industry association, which represents most of the national and foreign investment management companies operating in Italy, as well as banks and insurance companies involved in investment management, including pension schemes (its members serve more than 10 million clients and manage assets of more than €1,600bn, representing more than 60% of the country's GDP.