{"id":1365,"date":"2018-09-10T11:15:44","date_gmt":"2018-09-10T09:15:44","guid":{"rendered":"http:\/\/hear-ir.com\/?p=1365"},"modified":"2023-12-20T20:58:52","modified_gmt":"2023-12-20T19:58:52","slug":"pir-equita-ora-il-premio-delle-pmi-italiane-e-salito-al-42","status":"publish","type":"post","link":"https:\/\/hear-ir.com\/it\/pir-equita-ora-il-premio-delle-pmi-italiane-e-salito-al-42\/","title":{"rendered":"Pir, Equita: ora il premio delle pmi italiane \u00e8 salito al 42%"},"content":{"rendered":"<p><em>da Milano Finanza &#8211;\u00a0<strong>Paola Valentini<\/strong><\/em><\/p>\n<p>La frenata della raccolta nel secondo trimestre del 2018 della raccolta netta dei fondi legati ai piani individuali di risparmio (Pir) \u00e8 in linea con le stime degli analisti di Equita. I comparti pir, in base ai dati Assogestioni, hanno registrato flussi netti pari a 1,35 miliardi di euro, rispetto agli 1,99 miliardi del primo trimestre e in rallentamento anche dai 3,36 miliardi registrati nell&#8217;ultimo trimestre del 2017.<\/p>\n<div class=\"amp-hidden\">\n<div class=\"i-amphtml-ad-default-holder\" data-ad-holder-text=\"Ad\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-medium wp-image-1367 alignleft\" src=\"http:\/\/hear-ir.com\/wp-content\/uploads\/2018\/09\/MF-300x178.jpg\" alt=\"\" width=\"300\" height=\"178\" srcset=\"https:\/\/hear-ir.com\/wp-content\/uploads\/2018\/09\/MF-300x178.jpg 300w, https:\/\/hear-ir.com\/wp-content\/uploads\/2018\/09\/MF.jpg 370w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/div>\n<\/div>\n<blockquote>\n<h4>&#8220;Un valore che si colloca nella parte alta del range che avevamo ipotizzato per il secondo trimestre, ovvero 1-1,3 miliardi di euro. La raccolta netta da inizio anno sale a 3,34 miliardi, rispetto ad una nostra stima per l&#8217;intero 2018 di circa 7 miliardi. Le masse totali hanno raggiunto 18,6 miliardi&#8221;, ricorda Equita.<\/h4>\n<\/blockquote>\n<p>In termini di\u00a0 il leader dei pir rimane Banca Mediolanum col 22% di quota di mercati, davanti al gruppo Intesa Sanpaolo (21%). La maggiore raccolta nel secomasse gestitendo trimestre \u00e8 stata catturata da Intesa con 400 milioni (29% del totale), Amundi con 329 milioni (24%), Mediolanum con 239 milioni (18%), Anima 197 milioni (15%) e Arca con 173 milioni (6%). In termini di singole categorie, i prodotti bilanciati hanno visto un incremento dell&#8217;incidenza sul totale (44% da 42% del primo trimestre 2018) a scapito dell&#8217;azionario (30% da 31%).<\/p>\n<p>Il problema \u00e8 che, dopo il boom di raccolta del 2017, pari a 11 miliardi, oggi i gestori fanno sempre pi\u00f9 fatica a trovare opportunit\u00e0 di investimento dato che i prezzi delle azioni delle pmi, che dovrebbero essere il bacino di riferimento dei fondi pir, sono saliti molto e la crisi dei mercati ha finora frenato lo sviluppo del mercato dedicato alle mid e small cap. Tanto che, osserva Equita, le valutazioni di queste azioni ora sono elevate.<\/p>\n<h4>&#8220;Con un rapporto prezzo-utili di 17,6, le mid-small cap italiane trattano oggi a premio del 42% rispetto al mercato domestico che tratta sulla base di un multiplo prezzo-utili di 12,4&#8221;, afferma la sim. In occasione dell&#8217;analisi di Equita di luglio il premio era 34%. &#8220;Nel confronto con gli indici europei, il premio delle mid-small cap italiane \u00e8 rimasto al 5%&#8221;, conclude Equita.<\/h4>\n","protected":false},"excerpt":{"rendered":"<p>da Milano Finanza &#8211;\u00a0Paola Valentini La frenata della raccolta nel secondo trimestre del 2018 della raccolta netta dei fondi legati ai piani individuali di risparmio (Pir) \u00e8 in linea con le stime degli analisti di Equita. I comparti pir, in base ai dati Assogestioni, hanno registrato flussi netti pari a 1,35 miliardi di euro, rispetto [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1368,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,38],"tags":[12,14,62,67,68,69,43,32],"class_list":["post-1365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-7","category-news","tag-asset-managers","tag-borsa-italiana","tag-crescita","tag-masse-gestite","tag-pir","tag-rapporto-prezzo-utili","tag-sell-side","tag-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pir, Equita: ora il premio delle pmi italiane \u00e8 salito al 42% - Hear-ir<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hear-ir.com\/it\/pir-equita-ora-il-premio-delle-pmi-italiane-e-salito-al-42\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pir, Equita: ora il premio delle pmi italiane \u00e8 salito al 42% - Hear-ir\" \/>\n<meta property=\"og:description\" content=\"da Milano Finanza &#8211;\u00a0Paola Valentini La frenata della raccolta nel secondo trimestre del 2018 della raccolta netta dei fondi legati ai piani individuali di risparmio (Pir) \u00e8 in linea con le stime degli analisti di Equita. 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