Azimut closed the month of July 2017 with positive net inflows of 371 million euros, thus bringing the result since the beginning of the year to over 3,8 billion. In particular, in July the group launched two new sub-funds of the Luxembourg multi-segment fund AZ Fund 1, AZ Fund Italian Excellence 3.0 and AZ Fund Italian Excellence 7.0, also intended for setting up individual long-term savings plans (PIR).
Italian Excellence 3.0 provides for a maximum equity component of 30%, while in Italian Excellence 7.0 this quota can represent up to 70% of the product's net assets. Total assets including assets under administration stood at 47,5 billion at the end of July, of which 38,5 refer to assets under management.
Finally, after four years of presence on the Brazilian market, Azimut received from the local authorities the authorization to take control of a “Distribuidora de Títulos e Valores Mobiliários”, a financial institution authorized to distribute financial products.
Today in Brazil the Azimut Group manages the equivalent of approximately 2,3 billion euros through AZ Quest and Azimut Brasil Wealth Management, with a 160% growth compared to the assets acquired in the various joint ventures.
“The trend in funding continues to be solid and in July showed a progressive improvement in the quality of flows towards asset management solutions – commented Sergio Albarelli, Group CEO – The result derives from the organic growth of the network, which in addition to Pir will have new highly innovative solutions available in the coming months, also linked to the unlisted world in which we have strengthened our expertise with the recent acquisition of the entire capital of Futurimpresa Sgr, and the increasingly substantial contribution provided by our activities abroad, which today represent about 22% of our total assets. We are also proud to be the second Italian group to have obtained the authorization to take control of a financial institution in Brazil”.
