Assoreti’s advisers hit record AUM
Italy’s networks of financial advisers reached total AUM of €306.8bn in September, industry association Assoreti has revealed.
Most of the inflows came from asset management products, €234.6bn (+3.5% since June 2014 and +16.1% since September 2013). Assets under administration were if €72.2bn (-0.6% since June 2014 and +4.9% since Septemebr 2013.
Direct investments in OICRs (Italian law Sicavs and funds) were of €134.2bn, 2% up compared to the previous quarter and 43.8% of total AUM. Funds invested in foreign-domiciled OICRs were of €117.6bn, 87.6% of total AUM in collective management schemes.
AUM in domestic products were of €15.7bn, 3.1% up compared with June. Insurance products and pension plans AUM went up by 6% and reached AUM of €80.2bn.
Among the bank networks, Banca Fideuram’s scored the best results in September with total AUM of €71.4bn net inflows. Banca Mediolanum and Fineco Bank followed with €51.5bn and €40.3bn respectively.