Listen to the audio version of the article
The asset management industry closed the year with negative collections of 48 billion. A figure at odds with the almost 20 billion collected during 2022. The scenario offered by the sector today has therefore radically changed. And to demonstrate this there are the redemption currents that have led open-end mutual funds to leave over 20 billion on the ground in a year. The market effect instead pushed the assets above 2,300 billion with a growth of 4.3% compared to the 2,260 billion at the end of December 2022. However, the historical record of 2,594 billion recorded at the end of 2021 remains very far away. At the end of December it fell furthermore, the impact on assets of collective management has increased, while that of portfolio management has increased.
December’s performance
On a monthly basis, a total of 1.8 billion entered the managers’ coffers, thanks almost exclusively to the collection of institutional mandates which closed the month with over 2.2 billion. A positive sign also for retail management (58 million) and for closed-end funds (704 million, 4.5 billion in the year), while for open-end funds the December balance sheet was negative for 1.2 billion.
Mutual funds
Among the different categories, bonds continue to attract attention and confirmation comes from the balance of 1.8 billion which, despite being almost halved compared to the 3.5 billion in November, still led the type to cash in in a year just under 24 billion (16.7 billion came out in 2022), the best result of all thanks above all to the placement of maturity funds. A completely different story, however, for shares which in the second half of 2023 began to lose steam after a long series of positive data. In December they closed their doors in the red by 536 million, while over the 12 months the deficit was limited to 27 million thanks to the good results obtained in the first part of the year.
The societies
On the monthly balance of the industry, the role of Poste Italiane was decisive because through institutional mandates it raked in as much as 3.7 billion (36 million on funds). Among the other players in the sector, December was particularly positive for the Generali group, for Mediolanum and for Arca, thanks to the contribution of open-ended funds. The institutional mandates, however, favored the collection of Anima, Allianz and Schroders.