The Financial Advisory Networks close the 2023 with the best monthly collection of the year in the managed savings sector.
Goal collection, December marks the return of management
In December, the data collected by Assoreti highlight net investments in mutual funds, individual management and insurance/pension products for 2 billion euros; the result, together with the overall net collection achieved on the securities administered, equal to 2.4 billionand liquidity flows of 1.4 billion, determines overall net volumes of 5.7 billion euros, a value more than doubled compared to the month of November and growing by 7.2% compared to the previous year.
The overall budget for 2023 therefore, it closed with the third best annual collection ever, equal to 43.9 billion euros (-2.4% y/y). Investments are concentrated on public and corporate debt securities, but the collection is also confirmed as positive for other types of financial instruments such as certificates and exchange traded products as well as mutual investment funds and individual management. The balance of movements on current accounts and deposits is negative for 5.7 billion euros.
At the end of 2023 there are 4.852 million the main customers of the consultancy networks, with an annual growth quantifiable at 150 thousand units. “A month of closing the year of strong growth in management and continuity in supporting our customers to invest adequately. The industry was truly able to offer consultancy which, in reading the needs of its customers and the scenarios on the financial markets, translated into sustained collection volumes and positive performances: proof of this are the excellent results” declares Marco Tofanelli, General Secretary of the Association.
The direct distribution of mutual fund shares translates into monthly net volumes of 1 billion euros. The annual balance sheet, therefore, is positive for 3 billion euros with the involvement of bond funds (2.4 billion), equity funds (2 billion) and flexible funds (1.3 billion) while on the balanced funds there is a prevalence of redemptions ( -3.2 billion). The balance of the overall movements carried out, in the month of December, on individual asset management is positive for 486 million euros and determines an annual valorization of net investments equal to 2.4 billion, mainly concentrated on securities management (2 billion). The monthly net resources directed towards the insurance/welfare sector amount to 451 million euros; the year thus ends with a negative net result of 2.6 billion euros as a consequence of the outflows from traditional (-3.7 billion) and multi-line life policies (-977 million) only partly offset by positive net premiums paid on unit linked (909 million) and on pension products (1.1 billion).
The monthly results achieved by Networks in the context of managed savings, they therefore translate into a contribution to the system of open-ended UCIs, through the direct and indirect distribution of units, for 1.7 billion; the contribution since the beginning of the year thus rises to 3.8 billion euros against net disinvestments of 20.5 billion recorded by the entire fund industry.
The monthly budget relating to administered financial instruments is positive for 2.4 billion euros and confirms the orientation towards investment in debt securities (2.6 billion). Since the beginning of the year, 67.6% of the net funding flowing into securities involves bonds State (31.6 billion), between placement on the primary market (6.7 billion) and activities on the secondary market (24.9 billion); investment choices also lean towards corporate bonds (9.1 billion), certificates (2.7 billion) and exchange traded products (1.2 billion), while the balance of shares is negative (-1, 5 billion).