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Financials

Intesa Sanpaolo takes the lead in Italian asset management in April

May 27 (Reuters) - Italy’s largest bank Intesa Sanpaolo in April surpassed Assicurazioni Generali as the country’s biggest asset manager, monthly data by industry lobby Assogestioni showed on Thursday.

Intesa recorded 655.6 million euros ($799 million) in net inflows last month, bringing its assets under management (AUM) to 521.7 billion euros ahead of Generali’s 514.8 billion euros.

Italy’s asset management sector in April had inflows of 5.1 billion euros with AUM totalling 2.5 trillion, Assogestioni said.

Intesa’s market share stood at 21.8% in April versus Generali’s 21.5%, the data showed. ($1 = 0.8201 euros) (Reporting by Federica Urso, editing by Maria Pia Quaglia and Valentina Za)

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