Italian asset managers' net inflows up 50% y/y in April despite tariff uncertainty

Anima Holding SpA

12/05/2025 07:27

By Alberto Chiumento and Alessandro Parodi

May 12 (Reuters) - Italy's five listed asset managers reported combined net inflows of 4.09 billion euros ($4.60 billion) in April, up from 2.72 billion euros in the same month of 2024, so far showing resilience against the trade-war-driven market volatility.

Net inflows into managed assets more than doubled to a combined 2.51 billion euros, data showed, as asset managers increasingly use the more lucrative strategy to drive profits.

WHY IS IT IMPORTANT?

The country's 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.

Merchant bank Mediobanca MDBI.MI launched a 6.3 billion euro bid for wealth manager Banca Generali BGN.MI in late April, as it seeks to sharpen its focus on wealth management and fend off Monte dei Paschi's BMPS.MI attempt to gain control of the group.

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

BY THE NUMBERS

QUOTES

Brokerage trends didn't show any significant change due to U.S. tariffs, Fineco CEO Alessandro Foti told analysts on Wednesday, adding that there was even an uptick in client interest in trading U.S. stocks.

Banca Mediolanum's assets under management (AUM) rose by a record 1.1 billion euros in April, Banca Akros noted, adding that overall inflows in the month were also very strong.

CONTEXT

Banca Mediolanum BMED.MI, FinecoBank FBK.MI and Anima Holding reported year-on-year increases in first-quarter profit, while Banca Generali's net income dropped but by less than expected.

Azimut's AZMT.MI net profit decreased slightly in the quarter ended March 31.

($1 = 0.8887 euros)

Italian companies contend growing asset under management market https://reut.rs/3GOBrV2

APRIL - Asset managers' performance in 2025 https://reut.rs/3EZxc8p

 (Reporting by Alberto Chiumento and Alessandro Parodi in Gdansk, editing by Kirsten Donovan)

 ((Alberto.Chiumento@thomsonreuters.com;alessandro.parodi@thomsonreuters.com))