August from accounts in the red for the industry managed savings, against the backdrop of a mix of global tensions and great volatility. As indicated by the monthly map drawn up by Assogestioni, net inflows slipped into negative territory by 393 million euros, after the lively +5,4 billion in July. Since the beginning of the year, the balance is positive for 11,8 billion, mainly driven by open funds, which, however, lost last month under the weight of redemptions (-328 million against the previous 2,6 billion). They moved in the opposite direction, however, i closed funds, positive for 120 million.
Portfolio and collective management
Among portfolio management, the retail ones were positive (370 million), while the institutional ones suffered a drop of 555 million. The total assets of the asset management industry continue to decline, falling to 2.282 billion from the previous 2,334. The incidence of collective management rose to 52,5% (+207 million) while portfolio management decreased to 47,5% (-185 million).
Equity, balanced, flexible, bond and monetary funds
Despite a marked slowdown compared to July (1,7 billion) and the growing volatility on the markets, equities nonetheless recorded positive inflows (661 million) which brings the balance from the beginning of the year to over 18 billion, "indicating that part of the subscribers is still taking advantage of market declines to increase exposure to the riskiest sector”, underlines Assogestioni.
Still in the red, on the other hand, the accounts of balanced (-91 million) and flexible (-547 million). Minus signs also for monetary bonds (from 130 to -366 million) and the balance of bonds was down sharply, which after the turnaround in July (1,4 billion), raked in only 20 million in August. From these numbers we can see adjustments in the composition of portfolios, rather than a clear signal.
The main managers
Among the protagonists of the market, Intesa Sanpaolo leads the ranking of deposits with a positive result of 470 million, thanks above all to the open funds placed by Fideuram. The data of Amundi (272 million), Mediolanum (270 million) and Bnp Paribas (323 million) were also positive. Negative. instead the budget for the Generali group which, thanks to the now customary intercompany transactions, closed the month with a deficit of 1,7 billion. Inflows from Poste Italiane (-272 million) and Ubs Asset Management (323 million) were also negative.
