Italy’s networks of advisers posted €1.6bn net inflows in January, industry association Assoreti has revealed.
The result marks a drop of 38.1% compared with December 2014 but is up 24% yoy. Net sales from asset management products came at €668m in January (+11.9% yoy), while net sales from administered products were of €939m (+34.4% yoy).
However, Sicavs registered outflows of €110m in January as net €231m was lost by foreign domiciled Sicavs; €537m by bond funds and €65m by money market funds. Foreign domiciled funds of funds saw positive flows of €117m as well as domestic Sicavs, which posted €18m.
Among the banks, Banca Generali scored the highest result with €405m net inflows, followed by FinecoBank with €356.5m and Banca Mediolanum with €281m.