Italy’s networks of advisers posted €1.8bn in April

Asset management products attracted some €1.9bn inflows, industry association Assoreti has revealed.

Total net inflows to OICRs (Italian law mutual funds and Sicavs) was of €757m, €477m of which came from foreign-domiciled products.

However, Assoreti highlighted an increasing interest in domestic OICRs, which attracted flows of €282m.

Total net inflows into unit-linked were of €713m, 25% up compared with March, thanks to insurance products and pension funds which posted €910m net inflows.

Total gross networks’ activity was of €7.7bn on the asset management side; €10.3bn on the intermediary side for stock transactions and €165m on all other products and services.

Assoreti also revealed that the official number of registered advisers operating in Italy was of 21,638 at the end of April.

 

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