Assoreti: Allianz and Azimut post highest inflows to adviser networks in Italy
Italy’s networks of financial advisers posted €1.7bn of net inflows in April, a 14% increase compared to the previous month, according to industry association Assoreti.
The positive performance was driven by asset under management, which attracted net inflows of €2.7bn (+18.3%).
Allianz Bank leads the league with €311m inflows, followed by Azimut, which attracted €280m against €164m in March.
The performance was also positive for Banca Generali (€240m) and Banca Mediolanum (€220m).
Flows were negative for Banca Monte dei Paschi di Siena (MPS), with outflows at €35m and for Hypo Alpe-Adria-Bank, with €-13m and Consultinvest with €-4.4m.
At the end of April, more than 23,200 advisers worked across Italy, according to Assoreti.