In March, the net collection made by Consulting networks is equal to 3.9 billion euros, a value substantially aligned with the result observed in the previous month. There propensity to invest of savers followed by financial advisors is confirmed supported; the net resources flowed into financial instruments, individual management, insurance and social security products amounted to 6.5 billion euros. Of these, 1.2 billion (+53.9% m/m) involve the products/services of managed savings, while net investments in securities reached 5.3 billion (+96.5% m/m) also thanks to the placement of Btp Value which catalyzed resources placed in current accounts and deposits (-2.6 billion). The service of consultancy with specific fee paid directly by the customer (fee only/fee on top) receives, in the month, total net resources of 1.1 billion euros, between new collections and contract switching. The monthly flow of resources on products with recurring fees, between managed savings (1.2 billion) and assets administered in consultancy with fees (703 million), is equal to 1.9 billion euros. These are the data relating to the activity carried out by the consultancy networks during the month of March, communicated by Assoreti.
“As already observed last year, even in this first window for the placement of Valore BTPs, valid for 2024, – declares Marco Tofanelli, general secretary of Assoreti – we are seeing a high level of appreciation for fixed income securities also among the clients of our Associates , with the transfer of an important flow of liquid resources deposited in current accounts. But investment demand is not limited to public and corporate bonds and is also increasingly fueling managed savings in all its macro-components, in a logic of portfolio diversification applied in the provision of the consultancy service. In this regard, starting from this month, we are sharing new information details with operators who observe, analyze and comment on the data of our sector, giving in particular indications, within the consultancy service, to the volumes of activity involving consultancy fee only and fee on top.”
Managed savings
The growth in volumes of net collectionobserved in the sector, involves all product/service macro-families. The direct distribution of shares Mutual funds of investment determines net monthly volumes of 497 million euros (+21.7% m/m); investments are concentrated in open-ended UCIs bonds of foreign law. The balance of movements on individual asset management it is positive for 407 million euros (+50.3% m/m); the negative trend of Gpf is interrupted, in which, in March, net investments reached 267 million euros. For the second consecutive month, the flow of resources destined for insurance/social security sector is confirmed positive; the net payments made are worth 343 million euros (+162% m/m), with greater involvement of multi-line policies (177 million) and unit linked (155 million). In March the overall contribution of the Networks to the open-ended UCI system, through the direct and indirect distribution of units, was confirmed as positive and equal to 1.1 billion euros, thus representing 58% of the entire system collection (1.9 billion ). The contribution of the Networks since the beginning of the year is therefore positive for 1.5 billion euros and compares with a negative result
achieved overall by the other distribution channels (-4.3 billion).
Managed savings
The movements carried out on the administered financial instruments determine high volumes of net funding on fixed income securities, public and corporate, implemented almost exclusively through placement activities on the primary market. The total net collection in government bonds was equal to 3.3 billion and the placement on the primary market, in particular of Btp Value, resulted in volumes of 3 billion. The placement of is also important corporate bonds of first issue with a value of 1.6 billion euros, partly offset by the net outgoing movements found on the secondary market (-169 million). Positive balance sheet also on certified (150 million) and on exchange traded product (212 million).
