AM products push Italy’s advisers inflows
Italy’s networks of advisers posted €3.1bn total net inflows in March, industry association Assoreti has revealed.
The result marks the monthly record since the beginning of 2010. Compared to the previous month, inflows have gone up by 13.2% mainly thanks to the contribution of asset management products, which continues to be the main driver of Italian promotori‘s positive results.
AM products sales have gone up 21.4% compared to February and came at a total of €3.6bn net inflows.
Managed products – as in stocks and cash – saw outflows of €418m in March, more than the €157m in February.
Since the beginning of the year, local advisers’ AUM has reached €7.5bn, with an average growth of 37%.
Of the total, 95.2% of investments were made in asset management products.
In March, FinecoBank led the way among banks with €625m, followed by Allianz Bank Financial Advisors with €470m and Banca Generali with €437m.