Mutual funds still drive the Italian asset management industry. In April these instruments collected 4.1 billion, bringing the total balance to 5.1 billion. The result is lower than the 9 billion collected in March, but it is still a very positive figure that adds another piece to the series of consecutive positive results achieved by the sector. On the other hand, the figure for portfolio management was more contained (804 million), which thanks to the balance of retail management (1 billion) abundantly offset the deficit in institutional mandates (-210 million). Total assets, which reached over 2,459 billion lire, were still on the highest level, thanks to the combined effect of the market and new flows, while open-end funds reached the historical record of assets of 1,184 billion.
Mutual funds
In this segment, the managers raised over 3 billion less than the previous month, but still led these products to collect 22.9 billion since the beginning of the year. Among the types that make up the system, in April it was the balanced ones that stood out; they were the only ones to grow compared to the previous month and recorded a positive balance of 2.3 billion, while equities slowed down, falling from 3 to 1.9 billion. Bonds were also down (from 1.3 billion to 404 million), while flexible ones plummeted which, after approaching balance in March (-30 million), suffered a sharp drop (-1.1 billion). Monetary markets lose their share but remain in positive territory (from 1.4 billion to the current 447 million). Once again the funds under foreign law led the entire system with a collection of 3.6 billion and an incidence on assets now close to 80%, while the Italians raised 502 million (21% the weight on managed assets ).
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The groups
From the management company side, the result of Poste Italiane should be noted, which thanks to institutional mandates totaled 1.5 billion. Amundi also did well with a balance of 791 million, Intesa Sanpaolo and Bnp Paribas in surplus respectively for 656 and 666 million and Lyxor which collected 433 million. A negative sign, on the other hand, for Generali (-1.4 billion thanks to the now customary infragroup transactions), Mediobanca (- 321 million), State Street Global (-175 million) and Kairos Partners (-125 million).