Fundraising continues to grow in November, even if the month is less brilliant than the previous one, with a positive net balance of +9,2 billion euro against 12,4 billion in October. In the first eleven months of the year, total funding therefore amounted to 119,7 billion, almost double the 62,6 billion of the whole of 2013 and therefore reinforces the record trend of 2014.
Furthermore, as emerges from the monthly map of managed savings released by Assogestioni, total assets reached 1.563,5 billion euros last month, up from 1.536,3 billion in October and mark yet another all-time high. Again in November, the greatest contributions to net inflows came from open-ended funds, with +5,32 billion (after +7,43 billion in October) and institutional mandates with +2,92 billion (after 3,74 billion).
Collective management with the addition of 12 million of closed-end funds total 5,33 billion. Portfolio management reached 3,83 billion (after 4,95 billion in October), including the 913 million of retail (after 1,21 billion). Among open-ended funds, the recovery of equities continues with net inflows rising to 439 million from 260 million in October (and after 186 million in September), while bonds are losing their edge, falling to 1,93 billion from 3,55 billion . Substantial stability for the balanced at 885 million from 899 million. The focus on flexibles rises again, going to 2,79 billion from 2,28 billion.
Exodus from monetary funds which in November marked -708 million against +483 million in October. The minus sign remains for hedges at -14 million after -52 million. Among the open-ended funds, those established under foreign law with net inflows of 3,7 billion are once again more appealing than Italians (1,61 billion), as in October (4,3 billion and 3,1 billion respectively).
