(Alliance News) - Azimut Holding Spa reported Monday that it recorded total net inflows of EUR1.2 billion in December 2022. This brings 2022 fundraising to EUR8.5 billion, above the high end of the full-year target of EUR6 8 billion.

About half of the full-year 2022 client demand of EUR4.3 billion came from managed products.

Total AuM reached EUR55.1 billion as of December 31, 2022 from EUR54.1 billion in 2021, an increase of 2.0 percent year-on-year.

Total assets under administration stood at EUR23.8 billion as of Dec. 31, 2022 from EUR29 billion in 2021.

Total assets stood at EUR79.0 as of December 31, 2022 from EUR83.2 billion in 2021.

The Private Markets segment saw strong growth in 2022 with EUR1.9 billion in inflows, up 42 percent year on year and reaching EUR6.5 billion at the end of December 2022, about 12 percent of total assets under management.

This, the company explains in a note, thanks to solid demand for the more than 20 new products launched in Italy and the United States during the year and the acquisition of minority stakes in BroadLight Capital, RoundShield Partners, Sanctum Altriarch Investment Management and Lycian Capital Partners.

Gabriele Blei, Group CEO, commented, "We are very pleased to end 2022 with another month of strong global client demand and above our estimates for the full year."

"Highlights of the month," he added, "include more than EUR170 million in demand for our fund solutions from Turkey, Brazil and Egypt, over EUR300 million Turkish Institutional Mandate, more than EUR230 million in new commitments in private markets predominantly on Italy, in particular a further solid closing of our Infrastructure for Growth - ESG fund, whose assets now total around EUR520 million, and the acquisition of a stake in the diversified asset management, financial planning, accounting and finance business, SCM Financial Group, in Australia.

In addition, the ad concluded, "with EUR230 million inflows in the fourth quarter our Azimut Life Insurance Solutions segment recorded its highest inflows since 2016. All these results were possible thanks to our diversified distribution channels around the world and the outperformance against competitors achieved by our Global Asset Management team."

Azimut Holding's stock on Monday trades in the green by 1.8 percent at EUR21.69 per share.

By Chiara Bruschi, Alliance News reporter

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