(Alliance News) - Azimut Holding Spa reported Wednesday that it recorded net inflows of EUR466 million in November, bringing the figure since the beginning of the year to EUR5.9 billion.

The company's target for the full year remains EUR6-8 billion.

Total assets under management stood at EUR59.2 billion and, including assets under administration, reached EUR88.7 billion at the end of November.

Gabriele Blei, group CEO, said, "Our Italian clients benefit from unparalleled access to a wide range of innovative investment solutions in the private markets. These solutions not only encourage greater diversification, but also offer the potential to generate superior returns for their investment portfolios. The continued interest in our products is evident, with over EUR160 million raised on private markets this month and over EUR1.4 billion since the beginning of the year."

"Assets under management related to private markets now total EUR8.0 billion and stand at 13.5 percent of assets under management. Overall, with net inflows of EUR5.9 billion since the beginning of the year, we are approaching the lower threshold of our annual target of EUR6-8 billion. Despite a challenging environment due to market volatility, thanks to the significant positive contribution of inflows and the work of our Global Asset Management Team, total assets have increased by 12 percent since the beginning of the year."

Azimut Holding's stock is up 0.7 percent at EUR22.27 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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