April in decline for the Italian industry of managed savings. As emerges from the monthly map of Assogestioni, net inflows are negative by 1,98 billion euro, after -926 million in March. The balance of flows since the beginning of the year thus drops to 8,9 billion. The managed assets, on the other hand, decreased to 2.427 billion, from 2.486 billion in the previous month, discounting the combined effect of funding and the market downturn, which the Assogestioni research office estimates at around -2,3%.
Collective and portfolio management
April, however, also confirmed the attractiveness of the open funds, which recorded the 25th consecutive month of positive inflows, with net flows of +1,6 billion, after +2,2 billion in March, for a total of +14,3 billion since the beginning of the year.
With the addition of the +185 million of closed-end funds (after +334 million to +1,4 billion since January), the monthly balance of collective management it amounts to +1,7 billion, after +2,5 billion in March, to a total of +15,7 billion since the beginning of the year.
To weigh on the big picture are again portfolio management institutional, which recorded negative net outflows of 4,3 billion in April, on the levels of March, which brought the segment balance down to -11 billion since the beginning of the year. Assogestioni specifies that the performance was "influenced by a series of intercompany transactions involving some strategic shareholdings which took place in the period". Including the +623 million in retail (after +959 million), portfolio management closed the month at -3,7 billion, after -3,4 billion in March, with total outflows of -6,8 billion since January.
Equity, balanced, flexible, bond and monetary funds
Also April saw the preferences directed to equity funds, which recorded positive net inflows of +2,2 billion, after +2,4 billion in March, with +11,5 billion since January. Interest in i remains solid balanced, with +1,2 billion, in line with March (and +6,4 billion since January) and the flexible, with +278 million (after +203 million) to a total of 642 million since the beginning of the year.
on bonds disinvestments, on the other hand, caused deposits to slide even more negatively, to -2,5 billion from -1,7 billion in March, with a total of -8 billion in four months. It remains discreet, but is growing, the charm of monetary, which mark +413 million, after +150 million, to a total of +3,8 billion since the beginning of the year.
Italian and foreign funds
As for the denomination, funds under Italian law they close April landing in positive territory for +276 million, after -329 million in March, to a total of +204 million since January. THE foreign law funds they mark +1,3 billion, after +2,5 billion, to a total of +14 billion since the beginning of the year.
The main managers
As for the performance of the main managers, Intesa Sanpaolo in April it recorded net inflows of -936 million, with assets under management of 517 billion (22% of the total). The group Generali it marks -4,2 billion in net flows (affected by -5,1 billion from institutional management), with assets of 472 billion (20,1%). Amundi it closed the month with +431 million in net inflows and 224 billion under management (9,5%).
Prevalence of subscriptions also for Soul Holding (+310 million), with assets of 191 billion (8,1%) and above all for Post (+€1,24 billion), with assets of €100,3 billion (4,3%). Among the other players, the group stands out Mediolanum (+€328 million in deposits and €60,2 billion in assets), Ark (+177 million), the group Deutsche Bank (+320 million), BNP Paribas (+183 million) e M&G Investments (+218 million). Balance of negative flows, among others, for Schroders (-118 million) e Ubs Am (-308 million).
