February was a positive month for the Italian asset management industry, but the collection has abruptly slowed down compared to the beginning of the year. According to the latest survey by Assogestioni, the net figure for last month records a growth in investments of 2,1 billion euro: a sixth compared to 12,5 billion in January.
As regards the . overall, it drops to 2.416,5 billion, from the record of 2.424 billion reached in the first month of the year. Collective management assets, on the other hand, rose to their all-time highs (from 1.207 to 1.211 billion), while portfolio management fell from 1.216,4 to 1.205 billion.
On the flow side, in February the collective management remained in positive territory (+2,2 billion, against +5,1 billion in January), driven by open funds (+2 billion, from +4,6) and with closed-end funds at +229 million (+474 XNUMX).
Negative balance for portfolio management: -89 million (from +7,3 billion in January), due to the fall from 572 million in institutional mandates (from +7 billion). Retails mark +483 million (from +353 million).
Among the open-ended funds, investors' preferences have once again gone to the equity, which recorded positive flows of 3,7 billion, after the +1,8 billion in January. THE balanced closed February at +1,2 billion (from +1,5), while the bonds they slip into the red (-237 million; +903 million in January).
Divestments still prevail flexible (-1,25 billion, after -1,4) and on monetary (-1,5 billion, after +1,76).
On the denomination front, for Italian-law funds, February ended with a funding balance of -322 million, after -818 million in January, while foreign funds recorded +2,3 billion, after +5,5 billion .
