In February, 345 million entered the operators' coffers
Bonds lead the way but other types are also in the black
Key points
February is a profitable month for individual savings plans. Managers' inflows last month amounted to 345 million, and to find a better figure than this one has to turn the clock back to February 2025 when a total of 410 million entered the system's coffers.
Categories
The boost to inflows always came from bonds, which brought in a balance of 263 million, but the other types also closed the monthly accounts with a positive sign. Balanced Pir funds were particularly popular, with inflows of 61 million, while 17 million and 5 million respectively went into the coffers of flexible and equity funds.
These numbers suggest a timid awakening of risk appetite on the part of subscribers who have increased the equity portion of their portfolios. The good performance of the stock markets has evidently enticed investors, who have been attracted by the brilliant performance of the Pir concentrated on the stock markets. This partial return to the market, however, is a fairly clear signal of a change in attitude. Not only bonds in the choices, then.
Individual products
Among the ranks of the individual Pir, three products stand out, which alone contributed over 65 per cent of the sector's total net inflows. These were Mediolanum Obbligazionario Italia VIII La with inflows of 92.3 million, closely followed by Bcc Investire Obbligazionario Pir II which collected 88.2 million. More distant is Eurizon Pir Obbligazionario Edizione Uno 2026 with assets of 44.7 million. On the side of the other types, two other plans from the Eurizon stable cashed in the most, namely the balanced programmes Italia 70 and 40 (16.2 and 15.2 million respectively). Negative balances in general were limited. The largest outflows were recorded by Mediolanum Flessibile Sviluppo Italia (-€9.3 million) and two Amundi products (Risparmio Italia B -€5.7 million and Sviluppo Attivo Italia B -€3.6 million).
The companies
On the company side, Mediolanum and Bcc Risparmio & Previdenza lead the funding ranking with respective inflows of €103m and €100m, while the third step of the podium is occupied by Eurizon with a positive figure of over €85m. Arca Fondi (€25.4m) and Neam (€12m) also made a profit, while Mediobanca (-€1.9m) and New Millenium (-€1.3m) made a loss for the month.
