Investments in asset management products have gone up by 14.4% compared with October, industry association Assoreti revealed.
Asset management products saw total net inflows of €1.6bn in November, 29.2% up from October; while administered products saw the highest outflows, with a negative result of €91m.
According to Assoreti's data, 55% of inflows into asset management products went into direct shares of asset management investment tools (OICRs), which registered total net inflows of €882m, 48.2% up from the previous month.
The majority of investments were in foreign-domiciled funds, with a substantial balance between flows into traditional mutual funds (€400m) and funds of funds (€410m).
Foreign-domiciled funds posted net inflows of €464m against the €373m of equity funds and €303m of balanced funds. Italy-domiciled funds also saw a positive result, having a total worth of €18m at the end of the month.
As per gross inflows, Italy's networks of financial advisers' activity was worth some €7.2bn in November, Assoreti also revealed.
Banca Mediolanum topped the networks list once again with a contribution of €568.8m, followed by the Azimut Group, which posted some €275m. Fineco Bank, the Allianz Group and Banca Generali also posted a consistent amount of inflows with some €177m, €156m and €123m respectively.
Banca Monte dei Paschi di Siena (Mps) saw again outflows of about €29m.
At the end of November, the number of advisers working within the networks analysed by Assoreti were 21,418.
InvestmentEurope is delighted to announce the Spring Pan-European Fund Selector Summit, to be held 9-11 April 2014 at the Beau Rivage Palace, Lausanne, Switzerland.
Click here for further details: http://events.investmenteurope.net/summit
Today on Investment Europe
Selectors are increasingly being asked to consider the merits of ‘smart beta’ on behalf of their clients, but opinion on its role in providing superior risk adjusted returns is not clear cut.
A selection of key moments caught on camera from InvestmentEurope's recent Fund Selector Bond Focus Italy, which took place in Milan on 4 March.
Helene Williamson, head of Emerging Market Debt at First State Investments, is set to contribute to the discussion at the upcoming Fund Selector Forum Sweden in Stockholm on 7 May.