Italy’s networks of advisers currently manage a total of €340bn at the end of March, industry association Assoreti has revealed.
Assoreti, which said this is a new record for the sector, reported a 7.7% growth compared with the previous quarter, 31% of which came from the last three months performance and 69% from product sales.
The positive results were driven by asset management products, which contributed with €264.4bn inflows, +8.5% compared with December 2014 and +22.9% yoy.
OICRs (Italian regulated Sicavs) attracted direct subscriptions for €146.3bn, 7% up compared with the previous quarter.
Insurance policies and pension products sales went up 9.6% and currently make up to 27.7% of client portfolios, Assoreti also reported.