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Customers of Italy’s major savings institutions in recent years have favoured low added-value products such as bond or money market funds. But a recent trend to absolute returns and a cautious embrace of external funds has led to a newfound optimism, reports Elisa Trovato

Daniele Fano, head of economic research at Pioneer Investments, tracks how Italian investors have become increasingly savvy, opting for flexible bonds that extract value from any source, independently from the benchmark but against a target return

A nose-dive in Italian equity performance has seen many savers place their money in fixed income vehicles. However, the introduction of ‘fondi flessibili’ may offer them an alternative that could make up for past losses, writes Furio Pietribiasi, general manager responsible for product development and manager selection at Mediolanum