Italy’s 2012 inflows almost at €5bn, Assoreti reports
Italy’s financial adviser networks have recorded net inflows of €802m in May, a 6.4% decrease from the previous month, according to data released today by Assoreti, the association for financial adviser networks.
Since the beginning of the year, the Italian network of financial advisers reported inflows for €4.89bn.
Net inflows for assets under management were €508m during the month, with inflows for assets under administration at €294m.
Insurance and pension products recorded a positive 9.6% performance during the month, with inflows at €586m.
Inflows for mutual funds were at €424m, or €2.1bn since the beginning of the year.Net investments were at €10m in May, following disinvestments in bonds (€-178m) and cash (€58m) despite positive flows into equity investments (€123m).
According to Assoreti, financial advisers in Italy are about 23,350.