The asset management industry is struggling, which in the second quarter recorded negative net inflows of 5 billion euros compared to the 14,7 billion collected in the first quarter of 2018. However, positive news comes once again from the PIRs, which in April -May-June achieved net inflows of 1,35 billion euro (it was +1,9 in the previous three months). These are the main data deriving from the Assogestioni map.
Going into detail, since the beginning of the year, the net balance of flows stops at +9,8 billion and assets under management at the end of June dropped to 2.067 billion from 2.084 billion at the end of March.
Collective management went against the trend, with positive deposits of 884 million. However, the figure is significantly lower than the 9,7 billion euros of the first quarter of 2018. The total since the beginning of the year amounts to 10,6 billion euros.
Open-end funds did well, registering +1,1 billion, after +8,9 billion, while closed-end funds recorded outflows of 208 million, after +807 million. Portfolio management, on the other hand, recorded net inflows of -2 billion in the 5,8nd quarter against +5 billion in the 1st quarter. Negative balance in the six months: -817 million.
The balance sheet at the halfway point of the second quarter is clearly negative for portfolio management, with net inflows of -5,8 billion against +5 billion in the first quarter and in six months the balance is equal to -817 million.
As mentioned, Italian savers continue to show interest in the Pir. Open-ended Pir Compliant funds, in the three months to June, recorded a positive balance of +1,35 billion from +1,98 billion in the previous three months. Since the beginning of the year, inflows amounted to +3,3 billion and assets promoted totaled 18,6 billion at the end of June.
From the Assogestioni map, Eurizon comes first on sustainable and responsible open funds with assets of 4.848 million euros and inflows of 506 million euros in the quarter and 1.264 since the beginning of the year.
Massimo Mazzini, Head of Marketing and Commercial Development, commented as follows: “For some time at Eurizon we have been directing our efforts towards creating a range of offers that combines the goal of creating long-term value for savers with a strong attention to the development of a production system that respects environmental, social and governance (ESG) principles. As part of an investment process that implements these principles overall, we have developed to date 17 funds characterized by a focus on this type of investment. These results in terms of inflows, with which we are very satisfied, – adds Mazzini – demonstrate that distributors are at our side in promoting sustainable investments and that Italian savers are sensitive and receptive to these issues.”
