Inflows to Italy’s network of advisers break positive record in August, Assoreti
Net inflows to the Italian network of financial advisers increased by 65% in August, reaching €1.1bn at the end of the month, according to data released by industry association Assoreti.
The positive push came from asset management services, with €1.3bn net inflows during the month, the best monthly performance since the beginning of the year.
Assets under administration posted outflows for €254m, in line with flows registred in July.
Direct distribution doubled in August compared to the previous month, with net inflows at €998m.
Investors allocated €1bn to foreign funds, an increase of 57% compared to July, among which €107m allocated to funds of funds.