Azimut Holding S.p.A. (BIT:AZM) will look for M&A. Gabriele Blei, Chief Executive Officer said, “Going backwards in terms of questions, net inflow target, what's the basic mechanics that we have done, -- we think M&A will continue to contribute to our net inflows. Clearly, there is a portion of contribution that will be incorporated in this target. We're not incorporating a deal that can increasingly or significantly increase the net new money expectations in 2021 in the case of Sanctuary, -- so clearly, we will continue to perform M&A both in Australia and/or the U.S., but this is a kind of physiological by now for a group like ours”.