(Alliance News) - Azimut Holding Spa reported Friday that it recorded positive net inflows of EUR89 million in May, bringing to EUR2.9 billion that recorded since the beginning of the year.

Total assets including assets under administration stood at EUR83.7 billion at the end of May, of which EUR57.0 billion refer to assets under management.

Gabriele Blei - Group CEO - commented, "The results since the beginning of the year and in May highlight the strength and resilience of our integrated and diversified business model and our ability to deal with volatile market conditions and extraordinary events."

"At the end of the month, AuM related to private markets exceeded EUR7 billion and stood at 12 percent of assets under management. This puts us on track to capitalize on this market opportunity and reach our target of at least 15 percent by 2024."

Azimut Holding on Friday trades down 1.0 percent at EUR19.66 per share.

By Maurizio Carta, Alliance News reporter

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