Italy’s five listed asset managers posted combined net inflows of €6.12 billion in July 2025—nearly double the €3.37 billion recorded a year earlier, following a slowdown in June. Inflows into higher-margin managed assets surged by 51% year-on-year to €4.36 billion (Reuters).
Despite competitive pressure from low-cost passive products and rising technology costs, Italy’s asset management industry remains resilient. With interest rates falling, banks are increasingly steering customer savings into investment products to sustain revenues.
FinecoBank CEO Alessandro Foti said sector consolidation is expected to improve efficiency and transparency in savings management. Major moves include Mediobanca’s €7 billion offer for Banca Generali—pending an August 21 shareholder vote—and Banco BPM’s April acquisition of Anima Holding, now reflected in group earnings.
Elsewhere, Azimut Holdings and Banca Mediolanum raised full-year net inflow targets on strong momentum. Anima reported improved first-half profits, while FinecoBank and Banca Generali posted lower second-quarter net profits.
