AM products bring €2bn into Italy’s adviser networks
Italy’s networks of advisers posted €2bn into asset management products in May, industry association Assoreti has revealed.
The results showed that flows into asset management products went up by 8.7% compared to April, while those into administered products, e.g. stocks and liquidity, were negative, posting €164m, -€36m compared to the previous month.
Flows into foreign-domiciled collective management were of €786m, while net subscription to OICRs (Italian law Sicavs) were of €240m.
Insurance products posted flows of €745m, slightly lower compared to April (€859m), but above the average of the first five months of the year (€591m).
Overall networks’ activity came at a gross of €6.8bn from asset management products; €8.9bn from intermediaries and €177m from stocks exchanges and other services.
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