Asset manager Azimut triples net inflow target after Turkish acquisition
Asset manager Azimut triples net inflow target after Turkish acquisition July 30 (Reuters) - Italian asset manager Azimut Holding AZMT.MI on Thursday more than tripled its 2026 net inflow forecast to more than €35 billion ($40 billion), compared with €10 billion previously, sending its shares rising 3%.
The guidance hike is subject to the closing of Azimut's acquisition of Turkey's Yapı Kredi Portföy Yönetimi by the end of the year. It announced the €305 million deal, aimed at creating a combined platform that would become Turkey's second-largest asset manager, on Wednesday.
Azimut reaffirmed its 2026 net profit target of €550 million
First-half net profit was €241.6 million, versus €239.6 million a year ago
The board has resolved to launch the first tranche of its share buyback programme, equal to €250 million
In March, Azimut pledged to return around 25% of its market capitalisation to investors through dividends and share buybacks by 2027
In the first six months of 2026, Azimut recorded net inflows of €8.1 billion
($1 = 0.8715 euros)
(Reporting by Enrico Sciacovelli, editing by Milla Nissi-Prussak)