The growth of the asset management industry in Italy continues at full speed. After a period of slowdown due to Covid, in July, according to the usual survey by Assogestioni, positive net inflows of 3,5 billion euros, slightly less than the approximately 4 billion recorded in the same month in 2019, but in a profoundly changed context. With this result, total net flows since the beginning of the year rise to 2,77 billion.
Inflows in July were equally distributed between individual management (1,7 billion) – this month they are once again attracting flows from institutions – and collective management (1,8 billion). Open funds raised 1,6 billion, with long-term products which totaled inflows of 2,8 billion at the expense of -1,4 billion on monetary. Italian savers have oriented their preferences on equity (+2 billion), bonds (+1,3 billion) and balanced bonds (+404 million).
At the domiciliation level, it is still foreign funds, in particular i round trip with 2,1 billion in funding, leading the recovery, while Italian funds suffered net negative flows of 833 million (-3,57 billion since the beginning of the year). Since the beginning of the year the situation has been this: they direct the collection i funds round trip with +8,2 billion, pure foreign funds follow with a slight loss (-313 million) and finally Italian funds with -3,57 million.
The assets of the sector, supported by the new subscriptions and by the effect of the management activity, it grew by 21 billion compared to the previous month to 2.287 billion. 52% of assets, equal to approximately 1.180 billion, is employed in portfolio management. The remaining 48% (1.107 billion) is delivered to collective management.
Among the managers, the names of the group emerge Intesa Sanpaolo, which leads the ranking with 1 billion in funding (thanks to the contribution of Eurizon with 491,8 million euros and Fideuram Investimenti with 559,6 million euros), then Poste Italiane with 798 million and the Generali group which rakes in 347,2 million.
