Wind in the sails in March for asset management: net inflows in the sector were positive by 10,1 billion euro, after +7,45 billion euros in February and +4,6 billion in January, for a total of 22,1 billion since the beginning of the year. Assets under management, according to what emerges from Assogestioni's monthly map, improved slightly to 1.962.260 million euro from 1.960.342 million in the previous month, thus updating the February record.
Portfolio management totaled 4,9 billion, up from 3,3 in February, for a total of 7,1 billion since the beginning of 2017 and institutional management was still the master, which totaled 4,3 billion (2,7 the month before and -1,9 billion in January), bringing the total for the year to 5 billion. The retail ones instead collected 599 million, substantially in line with February (606). Turning instead to collective management, inflows in March amounted to 5,2 billion, from 4,1 billion in February and for a total of 15 billion in the first quarter. As always, the greatest contribution comes from open-ended funds with +5,1 billion (from +4,1) while closed-end funds scored +91 million (from +9 million).
Collections exceeding one billion for the group should be noted Intesa Sanpaolo (1,35 billion) e Amundi (1,56 billion). “March inflows mainly flowed into mutual funds”, underlines Massimo Mazzini, Head of Marketing and Commercial Development of Eurizon, sgr of Intesa SP. “In particular, an important contribution comes from the PIR compliant funds, launched at the end of February with the Eurizon Progetto Italia range”.
The trend in the collection of open funds as a whole continues to show a preference for bonds (+1,87 billion in March), followed by balanced funds (+1,66 billion) and flexible funds (1,56 billion).
the component of placement window funds is strong, on which the banks are focused given the favorable timing of the recognition of commissions compared to traditional funds”, recalls Matteo Serio, commercial director of AComeA sgr.
Plus sign also for the equities, which collected 727 million, while monetary outflows continued (-633 million). The
fortune of products domiciled abroad, which intercept almost all of the flows (4,84 billion), representing 73,4% of the assets of open funds.
"The effect of the PIRs will be seen in April because most of the placements of these products started in mid-March,” Serio points out. AComeA launched its individual savings plan “Patrimonio Esente” on April 21st. “In April we should see different numbers on Italian-law funds,” he adds.
