MILAN, Sep 12 (Class Editori) — July’s advisory network inflows increased despite a very uncertain stock market performance. According to Assoreti statistics, the balance for the month stood at 4.2 billion euros, up by 33.2% from the previous month, although down by 22.5% on July 2021, which had been a record-breaking year due to market conditions that were significantly opposite to those of today.
In detail, net resources of 1.2 billion euros flowed into asset management products, up by 28.5% from the previous month of June (-65.3% annually), while the administered segment had inflows volumes of 3 billion euros, up by 35.2% monthly (+55.7% annually), directed mostly to the financial component (1.7 billion euros). Since the beginning of the year, the balance stands at 28.8 billion euros. Nearly 80% of net inflows (22.8 billion euros) is invested between financial products, both managed and administered, and insurance/pension products.
The performance of asset management
The segment's growth is driven by the results achieved on individual asset management and insurance/pension products. The balance of individual asset management is, in fact, positive by 324 million euros, a marked increase compared to June's results (27 million euros), with the predominant involvement of GPM (237 million euros). Net payouts made on insurance policies and pension products totaled 700 million euros (+5.4% monthly). 83% of the inflows converged on unit-linked (329 million euros) and multi-branch policies (254 million). Direct distribution of mutual investment funds turns into a net inflow of 200 million euros (-23.4% monthly). Net investments in mobile closed-end funds decrease while net inflows in open-end funds increase. Investment choices focus on equity funds (640 million euros), but the balance is negative for all other categories, especially for bonds (-384 million euros). The monthly contribution of the networks to the open-end fund system, through direct and indirect share distribution, thus reaches 912 million euros. Since the beginning of the year, the contribution has risen to 9.3 billion euros (Assogestioni’s system data for July are not available at this time).
Assets under administration
The net inflow carried out by administered financial instruments, which amounted to 1.7 billion euros, decreasing from June’s result of 6 billion euros, mainly involves shares with 655 million euros. Government bonds (392 million euros) and certificates (279 million euros) also showed a positive balance. On bank accounts and deposits, inflows prevail again (1.3 billion euros from the loss of 3.8 billion euros in June).
Ranking by company
On the individual management company front, first in terms of July flows is the Fideuram Group with 1.02 billion euros, 265 million of which in assets under management, followed by Fineco at 831 million euros, 292 million of which in assets under management, and Mediolanum with 700 million euros, 360 million of which in assets under management. Also, above 500 million in inflows are Allianz Bank with 650 million euros, 200 million of which in assets under management, and Banca Generali with 543 million euros, but in the red by 9 million in assets under management. Since the beginning of the year, the ranking also shows the same order: the Fideuram Group is first with 7.4 billion euros, then Fineco with 5.7 billion euros, Mediolanum with 4.3 billion euros, and then Allianz and Banca Generali with 3.6 billion euros.
(Source:Class Editori)
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
