Finance
Net inflows at Italian asset managers rise 47% y-o-y in 2025
Published by Global Banking and Finance Review
Posted on January 14, 2026
Italian Asset Managers See 47% Surge in Net Inflows for 2025
Overview of Net Inflows in 2025
By Mirko Miorelli
Jan 14 (Reuters) - Italy's five listed asset gatherers reported combined net inflows of around 68 billion euros ($79 billion) for 2025, up by 46.8% from 46.3 billion euros the previous year.
In December alone, combined net inflows totalled 18.2 billion euros, recording a four-fold increase versus the same month of 2024 boosted by Azimut's acquisition of North Square Investments LLc, a U.S. multi-boutique asset management and distribution platform.
Significant Growth in December
Net inflows into more lucrative managed assets rose by around 336% froms December 2024 to a combined 17 billion euros, data showed.
WHY IS IT IMPORTANT?
Challenges Facing the Industry
The fund management industry is under pressure to protect margins as it grapples with growing technology spending and competition from passive products and other cheaper forms of investment.
European asset managers, which have so far struggled to join forces, face competition from U.S. rivals that are hoovering up a large share of the continent's savings.
Market Expansion Strategies
A plan by Italy's biggest insurer Generali and French banking group BPCE to merge their asset management operations collapsed at the end of last year after meeting strong opposition from the Rome government and some key Generali shareholders.
BY THE NUMBERS
QUOTE
"In 2025, we deepened our presence in existing markets, while entering new ones, notably in Morocco and Saudi Arabia. At the same time, we strengthened our U.S. footprint and Brazilian franchise," Azimut CEO and CFO Alessandro Zambotti said.
"We are very proud of ... net inflows reaching and exceeding the targets we had set (for 2025) both in qualitative and quantitative terms despite the context marked by the banking consolidation wave," Banca Generali CEO Gian Maria Mossa said.
($1 = 0.8587 euros)
(Reporting by Mirko Miorelli; Editing by Valentina Za)
Frequently Asked Questions about Net inflows at Italian asset managers rise 47% y-o-y in 2025
1What is asset management?
Asset management is the process of developing, operating, maintaining, and selling assets in a cost-effective manner. It involves managing investments on behalf of clients to achieve specific financial goals.
2What are net inflows?
Net inflows refer to the total amount of money that investors put into a fund or investment vehicle minus the amount withdrawn. It indicates the growth or decline in the fund's assets.
3What are managed assets?
Managed assets are investments that are overseen by professional asset managers. These can include stocks, bonds, real estate, and other investment vehicles.
