Net new money was poured into bond and equity funds.
Despite plans to cut 101 jobs in the Grand Duché, State Street leads the pack in fund administration and other segments, according to a Monterey Insight study.
Responsible equity strategies pave the way with AuM totalling €495.5bn according to Morningstar.
Assets under management of listed exchange-traded funds on Borsa Italiana totalled €67.2bn as of end May.
During the week to 5 June, bond funds recorded inflows of $17.5bn according to Bank of America Merrill Lynch's research.
SS&C's Asset Manager Composite index shows AuM rebound of US listed asset managers in first quarter but operating margins hit record low since 2010.