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Italian funds post €5.4bn inflows in May

Italie
On the 06/24/20 at 3:09PM

by

Adrien Paredes-Vanheule

Italian asset management association Assogestioni said local funds boarded €5.4bn in net new money in May. Overall Italian fund outflows since the start of the year hence reduced to €4.5bn from €12bn at the end of Q1'20.

Open-ended funds accounted for €3bn of the net subscriptions recorded in May. Italian investors poured a net €3bn into equity funds while plugging €340m and €246m in bond and balanced funds respectively. Three asset classes suffered net redemptions last month including money market funds (-€653m), flexible funds (-€66m) and hedge funds (-€20m).

The Italian fund industry posted €2.21trn in assets under management as at end May 2020, up 1.5% month-on-month and 3% vs. March.

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