Finecobank records in December the highest figure since the beginning of the year, down however by 1.6 billion over 2020
Finecobank closes the net inflows from December to 1.4 billion euros, the highest figure since the beginning of the year although down from 1.582 billion in December 2020. According to the company specified in a note, in December the managed component reached 834 million, up 5% compared to a year ago, while the direct stands at 635 million, down by more than 10% compared to December 2020. administered component is negative for 64 million.
Since the beginning of the year, the net inflows reached 10.7 billion euros (+ 15% compared to 9.3 billion in 2020) with the component managed at 7.3 billion (+ 70% from 4.3 billion a year ago). There institutional record collection of FAM, equal to 1.1 billion in the month, represents an effect of the ongoing acceleration of the company’s growth process, which allows a more complete internalization of the value chain. At the end of 2021, the is total assets it is attested to 107.9 billion euros, with a growth of 18% compared to December 2020.
“Fineco closes 2021 with data collection extremely robust which confirm the strong growth trend seen throughout the year. The constant acceleration of managed deposits confirms the effectiveness of the model business of the bank and the ability of our advisors to accompany clients in their investment choices, “he commented Alessandro Foti, Chief Executive Officer and General Manager of Fineco.
“Added to this is the efficiency of FAM (Fineco asset management) in completing its development plan in advance, which has allowed the entire group to be correctly positioned to seize the opportunities that will open up from the first phase of the year. All this allows us to look with optimism to the challenges of 2022“, he added Photos.
THE revenues of the brokerage are estimated for the month of December at approx 16 million euros, down from 17 million a year ago, against a lower market volatility than in December 2020. The comparison with the average of revenues between 2017 and 2019, when volatility was comparable to current levels, it shows a growth around 42%, thanks to the expansion of the active customer base and the continuous innovation of the offer. Since the beginning of the year, brokerage revenues are estimated at around 214 million (-8% on 2020), for an average monthly revenue that exceeds that in the 2017/19 period by 58%.
As for the numbers of Fineco asset management, the retail deposits in December 2021 amounted to 336 million euros, with strong customer interest in particular in the FAM Target family, which allows them to gradually invest in the equity markets, in parallel with an enrichment of the offer with 15 new strategies in the month. At 31 December 2021 FAM managed assets for 24.8 billion euros: 15.1 billion in the retail component (+ 44% on 2020) and 9.7 billion in the institutional component (+ 67%).
Regarding the customers of all Finecobank, in the month of December 8,165 new customers were acquired, bringing the figure from the beginning of the year to 112,091 new customers with a growth of 19% compared to 2020. The number of total customers at 31 December 2021 stood at 1,428,170.
Finally, in relation to the total assets equal to 107.9 billion, in detail, the volumes of Private Banking amounted to 48.8 billion euros (+ 26% compared to 38.6 billion in December 2020). Guided Products & Services recorded € 764 million in inflows in December, bringing inflows from the beginning of the year to € 6.8 billion (+ 61% y / y). The incidence with respect to the total AuM rose to 76% compared to 74% a year ago
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