Italy’s advisers hold €300bn AUM

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Italy’s networks of financial advisers’ contribution to the asset management industry has gone up by 13.2% over the last year, industry association Assoreti has revealed.

As of June 2014, total sector AUM was of €299bn, €226.5bn of which was invested in asset management products. The asset management segment increased its AUM by 5.3% since March and by 15.4% since June 2013, Assoreti also said.

Mutual funds and Sicavs brought €131.6bn to adviser portfolios in June, 4.6% up compared with the previous quarter, making up 44% of total AUM. Foreign-domiciled funds constituted 87.7% of the total €131.6bn AUM, with total value of €115.4bn. On the other hand, funds of funds accounted for €25.7bn, while mutual funds for €89.7bn.

Among the banks, Banca Fideuram’s advisers ranked first with €70.4bn inflows in June, followed by Banca Mediolanum with €50.3bn and FinecoBank €39.4bn. Banca Generali, Allianz Bank FA and Azimut Consulenza followed with €32.2bn, €31.8bn and €20.9bn inflows respectively.



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