Forget the election, focus on inflation

Italian investors began the year in a surprisingly calm mood. Net flows into local long-term funds were relatively slight at just over €1bn with support for mixed asset funds being generally dragged down by a sizeable redemption from the traditionally popular fixed income arena. Inflationary winds blowing in from the USA seem to have been a more important consideration than the looming general election, driving bond investors towards more risky assets. Even equity funds scored €469m of net inflows, although this was a modest volume given the background of record performance from global bourses.

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