Italy’s financial advisers’ capital hits record in September – Assoreti
Italy’s networks of financial advisers
managed to bring total clients capital at €270.8bn at the end of September, industry association Assoreti revealed.
The result hits a new record of the sector, whose capital has gone up by 8.7% compared with September 2012 (€249.2bn).
Asset management products attracted the highest inflows, coming at a total net worth of €202bn, €24bn more compared with the same period last year.
Assets under administration instead decreased from €71bn to €68bn.
Investments in foreign products scored a particularly positive result, coming at a total of €103bn against the €89bn at the end of September 2012. A more detailed breakdown of the sector, reveals that mutual funds and Sicavs attracted inflows of €118bn (+15bn), while insurance and social securities products saw inflows of €67bn (+9bn)