(Finance) – Le financial advisory networks they closed the month of June 2023 with a total net inflows of around 2.9 billion. The monthly figure, albeit down on a cyclical basis and on a trend basis (4.3 billion in May 2023 and 3.2 billion in June 2022), consolidates the first semester of the year which is thus up compared to 2022 and equal to 25.1 billion euros. This was communicated by Assoreti (Association of Investment Consulting Companies), explaining that 92% of net monthly volumes flow into the administered savings sector (2.6 billion) between investments in financial instruments (5.5 billion) and outflows of resources cash from current accounts and deposits (-2.8 billion).
The overall balance achieved on asset management products was also positive (223 million); mutual funds and individual managements determine the cyclical growth of net investments in the sector. Also in June increases the number of customers consultancy networks; in the first six months of the year the effective growth can be quantified as 100 thousand units.
“The results of the month consolidate the balance sheet for the first half of the year maintaining significant levels; in investment choices government securities and corporate bonds remain privileged. The sector investment in open funds and individual managements was positive”, he commented Marco Tofanelli, Secretary General of the Association”.
Managed savings
The activity of direct distribution of shares of mutual funds translated into positive net inflow volumes of 134 million euro. The growth compared to the previous month is attributable to flexible funds (211 million) and equity funds (203 million); the balance of bonds was also positive (93 million), albeit with a slight downturn, while balanced funds were affected by a greater increase in net outflows (-366 million). Investments made in individual asset management reach 312 million; the positive balance of asset management (336 million) is only partially mitigated by the outflows involving fund management (-23 million). Still negative is the balance of movements made in the context of insurance sector (-280 million); the outflows for traditional life products (-299 million) are accompanied by those realized on multi-class policies (-91 million), while the net premiums involving the unit-linked (110 million) are confirmed as positive. Stable and positive net deposits on pension products (56 million).
The overall contribution of the Networks to the open UCITS system, through the direct and indirect distribution of quotas, is positive for 174 million euro against a negative system figure for 2.6 billion euro. The contribution of the Networks since the beginning of the year thus rises to 3 billion compared to a figure of the fund industry which is negative for 5.6 billion.
Administered savings
The net inflow activity achieved on managed financial instruments is concentrated on government bonds (4.3 billion), thanks also to the contribution deriving from the placement of the BTP Valore, and on corporate bonds (1.3 billion); negative the balance of movements on equity securities (-314 million)