Italy’s advisers bring inflows up 50% in December
Italy’s networks of advisers posted €2.5bn net inflows in December, 50.9% up compared with the previous, industry association Assoreti has revealed.
To lead the positive trend were once again asset management products, which contributed with €3.1bn net sales, 37.1% up compared with November.
At the same time, administered products saw largest outflows of €535m.
Net inflows coming from OICRs (Italian-law compliant Sicavs) came at €944m, €862m of which went into foreign-domiciled open-ended funds; while domestic funds attracted inflows of €143m.
Insurance products keep their level of inflows with net premiums of €1.7bn (+13.7%), while discretionary portfolio management saw positive inflows of some €282m.
Among the banks networks, Banca Mediolanum managed to attract the highest inflows by posting €588,000, closely followed by FinecoBank with €532,000 and Allianz Bank Financial Advisors with some €500,000.