Value of Italian financial products and services breaks record, Assoreti reports
Assoreti, the Italian financial adviser network association, has reported record levels of assets in Q1, reaching a record €243bn, the highest value to date.
The figure accounts for the overall value of financial products and investment services within the network. The overall increase came both from assets under management (+5.1%) and from assets under administration (+5,0%).
Ucits, segregated funds, insurance and pension products accounted for 70,7% of the overall portfolio, equal to €171.9bn.
Mutual fund shares with direct subscription reached €100.3bn (accounting for 41.3%), with a 5.9% increase over the previous quarter.
At the end of March, 34,8% of the overall portfolio was invested in foreign undertakings for collective investment (€84,6bn), traditional investment funds (€69.4bn) and funds of funds (€15.2bn).
Assets under administration reached €42.6bn, reporting a 7.4% increase over the previous quarter. The cash component has also increased by 17.5%, reaching €28.5bn.