Good news and, once again, bad news. net collection The month ends with a minus sign for managed savings with flows recording a reduction of -597 million, after the -571 million of February. On the other hand, the masses are flying: thanks to the management effect, assets reach a new historic record, reaching 2.144,3 billion euros from 2.123 billion in the previous month. These are the most relevant data contained in the monthly map of Assogestioni.
Returning to the collection, in March, collective management they mark -708 million (-1,44 billion in February). Since the beginning of the year, the balance is -1,45 billion euro. Negative also i open funds, with outflows of -620 million euro (-1,68 billion since the beginning of the year). Down by 88 million also i closed-end funds, the only ones since the beginning of the year who have managed to maintain the plus sign, with total funding of 235 million euros since January.
Le portfolio management recorded positive net inflows again, albeit reduced compared to February, with +111 million after +867 million.
“In the choice of funds – underlines Assogestioni – savers have highlighted their caution, moving on to investments deemed less risky”. A trend that is evident in the net funding of bond funds, which reaches +1,89 billion after +287 million in February, bringing the balance for the first quarter to +743 million. The balanced ones also performed well, marking +272 million, after +70 million in February, to a total of +530 million since January.
On the contrary, continue escape from equity funds, which in March recorded a net balance of -1,26 billion (after -485 million in February to a total of -1,72 billion from January) and from flexibles (-735 million after -545 million, to a total - 2,74 billion in the quarter). Negative net inflows again also for monetary funds, with -762 million, after -955 million in February, but the balance since January remains positive at 1,64 billion. Taken together, Italian-law funds recorded outflows of 629 million in March, after -1,1 billion, to a total since the beginning of the year of -2,9 billion. Foreign funds close March at +9 million, after -536 million, with a balance of +1,2 billion in the three months.
As it regards instead the heritage, collective management at the end of March shows an increase to 1.063,2 billion (49,6% of the total) from 1.057,2 billion in February (49,8%). Open funds rise to 1.004,8 billion (46,9%) from 998,7 billion (47%). Closed-end funds total 58,3 billion (2,7%), on February levels. Portfolio management assets increased to 1.081,1 billion (50,4%) from 1.065,9 billion (50,2%), driven by institutional mandates which rose to 953,9 billion (44,5%) from 939 billion (44,2%).
Among funds, bond assets grew to 384,6 billion (38,3%) from 381,2 billion (38,2%), equities rose to 214 billion (21,3%, from 212,2 billion to February), the balanced ones go to 114,5 billion (11,4%, from 113,6 billion) and the flexible ones to 252,8 billion (25,2%, from 251,9 billion). Assets under management, on the other hand, decreased slightly for monetary funds to 35,3 billion (3,5%) from 36 billion (3,6%).
Speaking instead of the main players, according to data from Assogestioni, the Generali group it boasts assets under management of 488 billion (23,4% of the total), and in March it recorded outflows of 608,4 million. The Intesa Sanpaolo group, number two in the sector, recorded net inflows of -384,8 million (Eurizon -1,1 billion and Fideuram +713 million), with assets under management of 393,7 billion (18,9% of the total). Outflows also prevail for the Amundi group, which marks -341,8 million, with assets under management of 189,2 billion (9,1%) and for Soul Holding (-127,7 million with assets of 177,8 billion, 8,5% of the total). Positive net inflows of +740,4 million, on the other hand, for the Post, with assets under management of 81 billion (3,9%).
