Azimut net inflows 1 bln euros in June helped by UniCredit sales
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 08 2024
0mins
Source: reuters
- Azimut's Net Inflows: Azimut reported net inflows of 1.04 billion euros in June, driven by a new private credit fund and products sold through a partnership with UniCredit.
- Comparison with Rivals: Azimut's 29.6% increase in net new money contrasted with Banca Generali's 32.3% rise in net inflows for the same period.
- Partnership with UniCredit: Azimut's positive performance was attributed to its partnership with UniCredit, allowing distribution of mutual funds to the bank's Italian clients.
- Other Asset Managers' Performance: FinecoBank and Banca Mediolanum also saw significant increases in net inflows in June, reflecting a positive trend among Italian asset managers.
- Market Response: Jefferies upgraded FinecoBank's rating to "buy," anticipating further growth in assets under management due to lower interest rates.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
