Italian asset gatherers' managed inflows drop 27% y/y in January
12/02/2026 10:23
By Mirko Miorelli Feb 12 (Reuters) - Italy's five listed asset gatherers reported combined net inflows of 4.06 billion euros ($4.82 billion) in January, up around 10% year-on-year, but inflows into more lucrative managed assets fell about 27% to a combined 1.6 billion euros, data showed. WHY IS IT IMPORTANT? The savings management industry is under pressure to protect margins from growing technology spending and competition from passive products and other cheaper forms of investment. Shares of European asset managers slumped on Wednesday mirroring a sharp selloff in their U.S. peers, hit by investor worries over artificial intelligence disrupting traditional business models. With the exception of Anima Holding ANIM.MI, which is 90% owned by Banco BPM BAMI.MI, the other four Italian asset managers all fell in a range between 4.5% and 9.6%. Though consolidation in the sector has traditionally proven challenging, players are increasingly weighing M&A options as competition heightens to capture what experts have described as the largest intergenerational wealth transfer in history. BY THE NUMBERS QUOTE "2026 has begun in line with last year's positive trend in commercial volumes, despite the strong seasonality that typically characterizes January," Banca Mediolanum CEO Massimo Doris said. Regarding managed assets he added that "the month was marked by the solid contribution of recurring inflows, but also by maturities and early calls on certain managed products. "Demand for our mutual fund solutions remains robust, with a particularly strong contribution from Italy, Brazil and Mexico," Azimut CEO and CFO Alessandro Zambotti said in a statement, adding that "markets outside Italy generated about two-thirds of total net inflows." ($1 = 0.8418 euros) Asset managers' performance in 2026 https://www.reuters.com/graphics/ITALY-ASSETMANAGERS/JANUARY/myvmqzeanvr/chart.png (Reporting by Mirko Miorelli; Editing by Valentina Za) ((Mirko.miorelli@thomsonreuters.com))