Asset management: Assoreti reports that fund inflows across networks rose to 7 billion in May

Since the start of the year, the figure has reached 30.5 billion (+22 per cent year-on-year)

(Il Sole 24 Ore Radiocor) - In May, financial advisory networks recorded their best-ever monthly net inflows, according to Assoreti. Net inflows entrusted to bank-affiliated advisory networks totalled €7 billion (+8.4% compared with the previous month and +61.8% year-on-year). This result was driven by a broadly balanced contribution from the two main components: asset management products attracted net inflows of €3.3 billion, whilst inflows into the administered segment totalled €3.7 billion, comprising administered financial instruments (€2.1 billion) and cash (€1.6 billion). The year-to-date total therefore stands at €30.5 billion (+22.1% year-on-year); 86.5% of net inflows are invested in managed solutions (€14.7 billion) and administered financial instruments (€11.7 billion). Monthly net inflows associated with fee-based advisory services (fee-only/fee-on-top) stood at 1.4 billion euros (+40.4% year-on-year); since the start of the year, net inflows attributable to this service have totalled 6.2 billion euros. At the end of the month, the number of customers using the financial advisory services of the network banks affiliated with Assoreti stood at nearly 5.6 million, an increase of almost 148,000 in the first five months of the year.

Com-Chi