Bad news for the asset management industry. In April, the net deposits were negative by 3,9 billion euro, a larger decrease compared to the previous month (-597 million) which brings the total since the beginning of the year to 51,6 billion euro.
Il patrimony, on the other hand, reaches a new historical record, as assets under management equal to 2.171,8 billion from 2.161,4 billion in March. These are the main results that emerge from the monthly map of Assogestioni.
The trend in April confirms the trend of the previous months: savers prefer to stay put or move to bonds despite the positive performance of the stock exchanges.
Going into details, collective management they recorded outflows of -2,86 billion (-708 in March) and since the beginning of the year the funding balance has been negative by 3,1 billion. In decline especially i open funds, which mark -3,2 billion (-3,6 since January). Positively ifclosed waves which record premium income of 348 million euro (+557 in the 4 months).
Portfolio management (-1,04 billion), retail mandates (-637 million) and institutional mandates (-403 million) fell.
As for the different types:
- monetary funds: -1,8 billion;
- flexible funds: -1,3 billion;
- equity funds: -739 million;
- bond funds: +419 million;
- balanced funds: +251 million.
From the point of view of the mass gain in April, the gap between collective management and portfolio management narrowed. In April, the former reached assets of 1.082,4 billion euros, equal to 49,8% of the total (from 1.072,7 billion and 49,6% in March). Portfolio management, on the other hand, totaled 1.089,4 billion, equal to 50,2% (from 1.088,6 billion, 50,4%) and are divided between 127,9 billion from retail and 961,4 billion from institutions. Open-ended funds, for their part, totaled 1.022,5 billion, up from 1.013,2 billion in March.
Speaking instead of managers, in April the Generali group recorded net inflows of -802,1 million euro, with assets under management of 489,7 billion (23,2% of the total). “The funding result – explains the Trieste group – is mainly due to intercompany transactions.”
The Intesa Sanpaolo group then recorded outflows of 606,1 million (Eurizon -726,3 million and Fideuram +120,3 million), with assets equal to 396,7 billion (18,8%). Amundi, number three in managed savings in Italy with assets of 191 billion (9% of the total), recorded net inflows of -172 million in April.
