Savings: positive net inflows from consultants in January

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Savings: positive net inflows from consultants in January


Consultants qualified for off-site collection started 2022 at a steady pace: net flows in January amounted to 3.8 billion euros, up 2% per year. Despite the data, the market showed tentative signs of a more cautious stance from investors in light of the correction depicted by the listings and slowing global economic growth. Indeed, as evidenced by data from the trade association, “administered products run more than managed savings products. The momentum observed translates into positive net volumes for both, for the first at €2.2 billion and for the second at €1.6 billion, respectively up 51.9% and down 28.8% from last year.

More and more central councils with the current world scenario

The growth in volumes is explainedspecifies the note, the administered component of the portfolio, both for the financial part and for the liquidity, as well as insurance/retirement products. The net inflow of collective and individual management is against the trend. The market is now looking at a complex international scenario, the dynamics of which may involve the emotions of investors. In this context, commented Marco Tofanelli, Secretary General of Assoreti, financial advice, thanks also to greater awareness among Italian investors, takes on an even more central role, expressing its greater value in pursuing the interest of customers in protecting and improving their savings.

The race for retirement insurance products

In January 73.1% of net investments in the managed sector relate to the insurance/retirement component: net payments amount to 1.2 billion (+9.4% per year) and are concentrated on unit-linked products (700 million) and multi-branch products (428 million). The balance sheet for individual wealth management is positive at 376 million (-15.1%). Net subscriptions for funded management amounted to 380 million euros, while the balance for equity portfolio management was negative at 4 million euros. The direct distribution of FCP units generated net inflows of 66 million (-91.4%). The prevalence of redemptions is observed in open-ended UCIs (-8 million), while the balance sheet of closed-end investment funds is positive at 74 million.

The contribution of the Networks to the OPC system is increasing

In January, according to Assoreti’s note, the monthly contribution of the Networks to the open-ended UCI system reached 1.5 billion eurosthanks mainly to the indirect distribution of quotas, and is equal to 29.2% of the total volumes of the industry (5.3 billion).

Assets under administration, release of securities

The balance of movements made on administered financial instruments was positive at 309 million euros (+165.3% over one year), a figure to be compared with outflows (-401.5 million) recorded in December. At the same time, the liquidity raised amounted to approximately 1.9 billion euros (+41.8% annually and +1% monthly). In January, customers who turned to the networks of financial advisors increased to 4.82 million, or more than 22 thousand units compared to the previous month (+0.46%) and 161,439 compared to the same month of 2021 (+3.47). %).


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