Inflows up to €955m in June, Italy’s Assoreti reports
Italy’s network of financial adviser networks recorded net inflows of €955m in June, a 19% increase from €802m inflows reported in May, according to data released today by Assoreti, the association for financial advisers.
Asset under management increased by 51% in June, reaching €768m.
Inflows for insurance and pension investment products were stable at €581m. Unit linked products attracted €471m, while individual wealth management decreased by €137m.
Overall inflows of OICR products (Italian law mutual funds and Sicavs) were at €715m in June, with positive inflows at €2.9bn since the beginning of the year.
According to estimates by Assoreti, Italy has about 23,300 financial advisers.