New record in October for the asset management industry. Inflows last month amounted to 3,62 billion euros, 500 million more than the 3,14 billion in September. Subscriptions since the beginning of the year are therefore now at 60,69 billion euro, the best result of the last ten years (+10 billion compared to 2005). The figures were disclosed by Assogestioni.
Driven by subscriptions and thanks to the performance effect, assets exceed 1.321 billion euros for the first time from 1.292 last month. Portfolio management attracts flows of 2,1 billion euro (down from 3,5 billion in September) while, thanks to the contribution of open-ended funds (+1,6 billion), collective management raises over 1,5 billion euros (from -348 million last month).
It's worse for closed-end funds. Inflows are at -132 million from -5 million a month earlier. As in September, the top 4 groups in terms of deposits are also Italian in October: Eurizon Capital (1,06 billion), Poste Italiane (899,3 million), Kairos (387,8 million) and Azimut (379,7 million).
