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Pioneer Investments: assets under management more than ?140 billion

Market share in Italy increased

Net flows of over €600 million were achieved in the month of May, €4.2 billion since the beginning of the year for Pioneer Investments.

Total Assets under Management reached €140 billion, an increase of 3.4% compared with the previous month (+8% since the beginning of the year), due to the combined net sales effect (+0.4%) and market effect (+3%).

Positive inflows of €541 million were seen in Italy, concentrated in the Segregated Account products, with €3.1 billion since the beginning of the year. 

The mutual funds (Assogestioni perimeter) achieved sales of €488 million, compared to €525 million achieved by the industry; consequently market share increased and reached 14.82% (+12 basis points on the previous month).

Significant sales were seen in the "Third Party" segment (+€210 million) and in the Institutional segment (+€77 million).

Total Assets under Management in Italy at the end of May stood at €99.1 billion, an increase of 6.8% since the beginning of the year (+2% compared with the previous month).

Positive growth continued in the International division (ex Italy ) with inflows of €95 million during the month, €783m since the beginning of the year.

This result reflected positive sales in Spain, France and in Switzerland.

Total Assets under Management increased by 18.1% since the beginning of the year and currently stand €9.3 billion.

The American division closed the month with negative net flows of €108 million due to persistent difficulties in the fixed income segment. Since the beginning of the year the division has seen outflows of €235 million.

The Institutional segment was a particular contributor this month, with net flows of €45 million in pension funds.

Total Assets under Management in this division stood at €27.1 billion, an increase of 8% since the beginning of the year, due also to the strong appreciation of the US dollar; in dollar terms Assets under Management increased by 1.6% and reached $33.4 billion.

Inflows of €79 million were achieved by the New Markets division, with total inflows of €535 million since the beginning of the year.

The trend for bond and money market products continued during the month.

Total Assets under Management in this division increased by 16.8% since the beginning of the year (+6.4% over the previous month) and currently stand at €4.5 billion.

Inflows were positive for the Alternative Investments division at €86 million (net flows and AuM data are included in the reported numbers for other divisions) mainly due to the placement of the Momentum family of funds products. Inflows of €388 million have been achieved since the beginning of the year.

Total Assets under Management in Hedge Funds stood at €4.3 billion, an increase of 2.9% compared with the previous month and 13.5% since the beginning of the year.

The data reported in this release has been compiled on provisional numbers, and is, therefore susceptible to change