Italy’s financial adviser networks book inflows of 41%
Financial adviser networks have booked a 41% increase in asset flows on last month, according to data from Assoreti, the association for financial adviser networks.
Networks have booked €1.4bn of assets, an increase of 41% on last month. The bulk of these assets (€952m) are invested in foreign-domiciled investment funds, of which €195m are in funds of funds.
The outflows from domestic funds continues, registering a loss of €193m, mostly in traditional mutual funds (-€169m). Insurance and other savings products attracted £365m, thanks mostly to unit-linked products (€310m).
The asset inflows into the financial adviser networks represent a 39.6% share of all fund assets, this month worth €2.4bn. From the beginning of the year, inflows into financial adviser networks have been worth just under €1.4bn. By contrast, other distribution channels have suffered outflows of €3.9bn.
Investors have continued to favour equities (€81m) and cash (€570m), against bonds (€-312m).