After a difficult quarter and a negative July, asset management rears its head again in August. The sector's net funding was in fact positive for 2,5 billion euro, after -483 million in July, -579 million in June and -6,9 billion in May. The balance since the beginning of the year therefore rises to +11,9 billion compared to the +2017 billion recorded in the first eight months of 76 in 2017, with a contribution of +8,6 billion since August alone.
These are the most relevant data emerging from the asset management map released by Assogestioni, which however underlines that August also recorded a drop in assets under management to 2.049 billion from 2.062,4 billion in July (and against the almost 2.091 billion last April), with assets of 1.052 billion (from 1.058 billion) for collective management (51,4% of the total) and 997 billion (from 1.004 billion) for portfolio management.
Going back to funding, that of open funds amounts to around 650 million euros. Italian savers have oriented their preferences towards monetary products (+493 million), flexible (+451 million), balanced (+429 million) and equity (+31 million). Closed-end funds instead increased to +507 million from -8 million in July, with a total of +1,1 billion since January. Portfolio management closed August with net monthly inflows of +1,4 billion, after +598 million in July, for a total of 1,2 billion since the beginning of the year. Redemptions continue for retail mandates: -24 million in August followed by -59 million in July and the balance for the first eight months is -1,1 billion.
