Positive November, but without great leaps, for the collection of managed savings, while assets show a decline. The month that saw the US presidential election and lived thewaiting for the referendum constitutional law recorded a balance of funding of +3,3 billion euros, after +2,95 billion in October, +5,8 billion in September and +6,2 billion in August.
As emerges from Assogestioni's monthly map, since the beginning of the year net inflows amount to +54,3 billion, divided between 33,6 billion from collective management and 20,7 billion from portfolio management.
At the end of November the masses managed they amounted to 1.903 billion, down from 1.913 billion in October.
I open funds stand out in November with +2,6 billion in net flows (from +2,3 billion in October), compared to -38 million in closed-end funds (from +252 million). Portfolio management totals +754 million (after +354 million), driven by the acceleration of institutional (+1,2 billion from +651 million in October), while for retail the decrease is accentuated (-408 million after -297 million ).
Among open-ended funds, November brought a revival of monetary funds which closed the month with +1,7 billion after -1,2 billion in October. On the other hand, the disaffection for the equity (-491 million from -424 million) and, after a brilliant October, the appeal of the bonds (+565 million from +2,65 million). Positive collection balance, but more cautiously than in October, for i balanced (+316 million from +498 million) and above all for i flexible (+559 million from 860 million), which had been among the most popular in the past months.
I funds under Italian law they closed November with negative net inflows of 228 million (after +686 million in October), while foreign-registered funds continue to lengthen their pace (+2,8 billion after +1,7 billion).
At the level of heritage, collective management totals 935 billion, 49,2% of the total, from 934 billion in October (48,8%), while portfolio management accounts for 967 billion (50,8%), down from 978 billion in October (51,2%).
