Italy’s financial advisers post €759m inflows in September, Assoreti
Italian financial advisers collected €759m inflows in September, down from €1.1bn inflows in August, according to data published by Italy’s association of financial advisers Assoreti.
Assets under management posted €829m inflows, down from €1.3bn in August, which were contrasted by €70m outflows from assets under administration.
Italian investors favoured foreign funds, which collected €395m inflows, of which €132m directed to funds of funds.
Insurance and retirement products also posted €463m inflows.
Italian networks of advisers posted combined €4.6 flows to asset management products.
Assoreti represents 21632 advisers, about 90% of the whole market.