(Tiper Stock Exchange) – Azimutha group active in asset management and included in the FTSE MIB, recorded in the month of July 2023 a net collection positive for 513 million euros, thus reaching 4.3 billion since the beginning of the year (target for the whole year 2023: 6-8 billion). 55% of net funding in 2023 (2.4 billion) was directed to asset management products. The total mass inclusive of assets under administration, it stood at a record level of 87 billion euro at the end of July, of which 58.6 billion euro referred to assets under management.
“July also ended under the sign of a solid commercial performance, with strong net inflows across our diversified businesses globally – Gabriele Blei, CEO of the Group – In particular, Turkey, Mexico and the Principality of Monaco contributed strongly to assets under management, highlighting the attractiveness of our investment solutions for private and institutional investors. However, the managed component was affected by the latest tranche of outflows from the previously announced institutional mandate from low-yield money market funds in Italy. We experienced strong organic growth in the US and Australia as we continued to expand our advisory platforms in both countries.”
“We are pleased to announce that, thanks to strong inflows and a positive market performance, total assets have reached a record level exceeding €87bn – he added – With net inflows of €4.3bn since inception of the year, of which over 850 million euros in private market funds, let’s look ahead confident of achieving the goal we have set ourselves for the entire year“.