Italian asset managers' net inflows up 24% y/y in March before market sell-off

By Alberto Chiumento and Alessandro Parodi

(Reuters) - Italy's five listed asset managers reported combined net inflows of 3.69 billion euros ($4.04 billion) in March, up from 2.98 billion euros in the same month of 2024.

To assess the impact of the current trade-war-driven rout in global stocks it will be necessary to wait until the next set of data.

Net inflows into more lucrative managed assets more than doubled last month to a combined 2.28 billion euros, the data showed.

WHY IS IT IMPORTANT?

The fund management industry is under pressure to consolidate to sustain margins in the face of rising technology investments, growing competition from passive products and other cheaper forms of investment.

Also, with interest rates declining, banks are increasingly turning to asset management to drive revenues.

Italy's third-largest lender Banco BPM this month concluded a buyout offer for Anima Holding, securing an overall 90% stake in the fund manager whose products it distributes.

BY THE NUMBERS

QUOTES

"Whilst its too early to determine how investors' behaviour will change in the coming months on the back of the shifting macroeconomic backdrop, we note that Fineco has a very diversified revenue mix", JPMorgan said in a note.

"(Banca Mediolanum) March asset under management net inflows are solid and above expectations," broker Equita said.

($1 = 0.9143 euros)

(Reporting by Alberto Chiumento and Alessandro Parodi; Editing by Valentina Za)