Italy’s Fideuram posts 250% increase of asset management inflows
Italy’s Banca Fideuram posted €1.5bn inflows during the first three quarters of 2012, up from €1.2bn in 2011.
Most inflows came from assets under management, up by 250% compared to the previous year, on the back of a very positive performance of insurance products.
The bank posted €151.6bn net revenues during the period, up by 9.9% year on year.
At the end of September, Fideuram and Sanpaolo Invest’s networks of advisers had 5076 bankers, up from 4850 professionals at the end of 2011.
The bank had €77.1bn assets under administration at the end of the quarter, compared to €70.9bn at the end of 2011.