Italy’s networks of financial advisers posted €307m in September
Asset management products attracted the majority of inflows, with a result of €273m, industry association Assoreti reported. `
Investments in administered products were also positive, with total net inflows of €35m.
As Assoreti also revealed, investments in foreign asset management investment tools (OICR) remained positive, although quite low at €4m. Investors choice focused on funds of funds, which saw positive inflows of €161m.
Italy’s networks of advisers also confirmed outflows from Italian domiciled funds (-€18m), hedge funds (-€4m) and close-end funds (-€11m). However, insurance products saw positive results, with life insurance policies and unit linked products attracting respectively €146m and €124m, for total inflows of €270m.
At the end of September 2013, Assoreti’s networks financial advisers were 21,792.