Net inflows at Italian asset gatherers up 3% y/y in September
Repeats to additional subscribers
By Alessandro Parodi and Alberto Chiumento
MILAN, Oct 8 (Reuters) -Italy's five listed asset gatherers reported combined net inflows of 1.31 billion euros ($1.44 billion) for September, up 3% from 1.27 billion euros in the same month of 2023.
Net inflows into more lucrative assets under management (AuM) rose to a combined 1.25 billion euros, up from 353.8 million last year, data showed.
WHY IT'S IMPORTANT
The asset management industry is undergoing changes as rising competition puts pressure on margins and scale becomes increasingly important, with further consolidation in the sector seen as inevitable down the road.
Bankers including Mediobanca MDBI.MI Chief Executive Alberto Nagel expect more consolidation deals after BNP Paribas BNPP.PA in August entered exclusive talks with AXA AXAF.PA to buy the French insurer's investment management arm, while UniCredit's CRDI.MI plans to merge with Commerzbank CBKG.DE has fed speculation about banking tie-ups in Europe.
BY THE NUMBERS
September Inflows | September Inflows into managed assets | Year-to-date inflows | Total Assets | Managed Assets | |
ANIMA (*) | -1.05 bln | -1.05 bln | -3.16 bln | 204.3 bln | 204.3 bln |
AZIMUT | 1.25 bln | 1.02 bln | 12.55 bln | 106.12 bln | 65.79 bln |
BANCA GENERALI | 310 mln | 216 mln | 4.73 bln | - | - |
BANCA MEDIOLANUM | 334 mln | 595 mln | 7.16 bln | - | - |
FINECO | 466 mln | 463.8 mln | 6.94 bln | 135.27 bln | 63.81 bln |
* Anima figures include Class I insurance mandates
GRAPHICS
QUOTES
"We think that Finecobank can now start to outperform thanks to more helpful macro, as lower rates can boost AuM flows, while deposit outflows are abating," Jefferies said.
Banca Generali reported a strong growth in demand for assets under investment, adding its inflow mix would accelerate in the last quarter of 2024.
CONTEXT
Inflows data at asset gatherers give indications on banks' quarterly earnings. With interest rates declining, banks have turned to net fees to drive revenue and offset the declining contribution from the lending business.
($1 = 0.9109 euros)
Italian asset managers contend lucrative AuM market https://tmsnrt.rs/4dFwUim
Reporting by Alessandro Parodi and Alberto Chiumento, editing by Keith Weir
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
