Savings: new asset record in December

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Savings: new asset record in December

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Over the past year, the network of financial advisors qualified for offsite financing has continued to break record after record. The high professionalism of the operators was in fact rewarded by the significant increase in savers’ confidence and, more objectively, by the new peaks recorded by the flows. This is what emerges from the note published by the professional association Assoreti, which highlights how 2021 ended with a new record: the assets of savers followed by partners in December amounted to 786.4 billion, up 17.8% compared to the end of 2020 (+14.1% net of sample changes during the year).

Investments increase

After the secrecy that characterized them in the year of the Covid-19 explosion, families have best overcome the initial uncertainties related to their income capacities, thanks to the brilliant economic situation and the success of the vaccination campaign. (to keep the virus at bay). In short, Italians have returned to planning for the future, with plans that in many ways reflect their experience with the pandemic. In fact, direct flows in financial instruments, portfolio management and insurance/pension assets reached €663.6 billion, i.e. 84.4% of total assets (+0.7 percentage point compared to 2020).

Liquidity is less important

Of this amount, according to Assoreti’s note, 554 billion was invested in asset management products (ie 70.5% of the portfolio) and 109.6 billion in administered financial instruments. The strictly financial component (OPCVM, individual management and administered securities) increased by 19.5% per year (+15.1% net of variations in the sample). Financial market performance and net inflow contributed 7.9 and 7.2 percentage points respectively to capital growth. Liquidity stood at 122.8 billion euros, with the impact in the portfolio – which fell by 0.7 points to 15.6% – back to pre-pandemic levels.

The weight of UCITS fell to 32.3% of the portfolio

These results, said Paolo Molesini, President of Assoreti, confirm the networks’ commitment to satisfying savers. Thanks to the solidity of the system, he underlined, we can face 2022 with renewed optimism. Coming back to data, in managed savings, the value of UCITS, subscribed directly, is 254.1 billion, with an impact on the portfolio of 32.3% (-0.3 point). Foreign open collective management reached 224.4 billion (28.5% of assets, -0.2 point), Italian open funds 25 billion (3.1%, -0.3 point) and closed funds jumped from 62.7% to 4.3 billion, increased the incidence to just over half a percentage point (+0.2 points).

The journey of unit-linked and multi-branch products

Individual management assets amounted to 85.7 billion, i.e. 10.9% of the portfolio (+0.4 point): the increase in the impact is attributable to the GPF, the weight of which (with 41.6 billion) rose to 5.3%, while the GPM (44.1 billion) remained stable. The value of the insurance/retirement sector stood at 214.2 billion, with an impact down 0.2 points to 27.2%. Unit-linked products reached 110.2 billion and multi-branch products 38.8 billion, with an overall weight up 0.5 point to 18.9%. In December, the networks’ total contribution to assets invested in open-ended UCITS amounted to 456 billion euros, with an impact of 36.1% on total assets invested in funds (assets under management equal to 1,263, 3 billion euros – provisional figure) . At the end of 2020, the incidence was 33.9%.

Assets under administration: actions still on the shields

With regard to assets under administration, the securities component amounted to 109.6 billion, bringing the impact on the total balance sheet by 0.6 point compared to the previous year to 13.9%. Also in 2021, the clear predominance of the equity component was confirmed, with 50.9 billion, followed by public debt securities (17.6 billion) and corporate bonds (16.6 billion). Meanwhile, the specific weight of exchange-traded products has increased in the portfolios of Italian savers, reaching a total of 8.9 billion euros.

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