FINECOBANK S.P.A. PRESS RELEASE
MAY NET SALES ABOVE € 920 MILLION, RESILIENT AUM
NET SALES YTD CONFIRMING LEVELS REACHED IN 2021
- May net sales at € 927 million. Asset under Management at € 156 million
- Net Sales YTD at € 4.8 billion. Asset under Management at € 1.5 billion
- FAM: retail net sales at € 140 million, assets at € 25.4 billion
- Brokerage: estimated revenues in May at € 16 million
Milan, June 8th, 2022
In May net sales were at € 927 million (from € 734 million in May 2021), furtherly strengthening the soundness of the Fineco growth path also in a particularly complex market phase. The asset mix highlights the wait-and-see attitude among the clients in the current uncertain context: positive Asset Under Management sales were equal to € 156 million, thanks to the ability of our financial advisors to support clients in a long term financial planning. Net sales in Asset Under Custody were equal to € 221 million and deposits amounted to € 550 million.
Furthermore, estimated brokerage revenues equalled around € 16 million in May, confirming the effectiveness of our business model in every market condition. Since the beginning of the year, estimated revenues reached around € 90 million.
MAY TOTAL NET SALES +26% Y/Y | BROKERAGE, SOLID REVENUES IN MAY |
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"Total net sales were particularly robust in May, showing a growth above 25% year on year despite an extremely complex market phase. Unlike other similar contexts in the past years, clients are now avoiding disinvestments of assets suggested by emotivity, also thanks to the commitment of our financial advisors: this situation is going to enhance the future transition from deposits to AuM, in order to catch the opportunities connected to market stabilization. Finally, satisfying brokerage results confirm the soundness and the revenue diversification allowed by Fineco business model."
figures in € million | ||||
TOTAL NET SALES | MAY 2022 | MAY 2021 | JAN-MAY '22 | JAN-MAY '21 |
Assets under management | 155.8 | 627.6 | 1,454.9 | 3,402.0 |
Assets under custody | 220.7 | 20.5 | 1,866.4 | 1,452.6 |
Direct deposits | 550.0 | 85.4 | 1,463.5 | 135.8 |
TOTAL NET SALES | 926.5 | 733.5 | 4,784.8 | 4,990.4 |
TOTAL FINANCIAL ASSETS | MAY 2022 | DEC 2021 | MAY 2021 |
Assets under management | 52,272.3 | 55,450.2 | 49,869.5 |
Assets under custody | 22,285.0 | 22,969.9 | 21,268.5 |
Direct deposits | 30,958.8 | 29,495.3 | 28,149.8 |
TOTAL FINANCIAL ASSETS | 105,516.0 | 107,915.4 | 99,287.8 |
FAM, retail net sales at € 140 million, TFA at € 25.4 billion
Fineco Asset Management retail net sales in May amounted to € 140 million, with a strong interest by clients for FAM Series. Since the beginning of the year, retail net sales were equal to € 1.2 billion and net sales in institutional classes were equal to € 1.4 billion, leading FAM assets as of May 31st, 2022 at € 25.4 billion, of which € 15.1 billion retail class (+22% y/y) and € 10.3 billion institutional class (+54% y/y).
Total Financial Assets above € 105 billion, Private Banking near € 46 billion
Total Financial Assets were equal to € 105.5 billion (+6% y/y). In particular, TFA related to Private Banking were at € 45.7 billion, increasing by 6% compared to € 43.3 billion in May 2021.
Net sales in Guided Products & Services stood at € 192.1 million in May. Since the beginning of the year, net sales totalled € 1.4 billion. The penetration rate of Guided Products reached 77% on total Asset under Management compared to 74% in May 2021.
7,200 new clients in May
In May, 7,200 new clients were acquired. Figures confirm the improvement of the client base, more interested in investing, and the increase in average Total Financial Assets of new current accounts. Total number of clients reached 1,451,579 as of May 31st, 2022.
figures in € million | ||||
PFA NETWORK NET SALES | MAY 2022 | MAY 2021 | JAN-MAY '22 | JAN-MAY '21 |
Assets under management | 158.2 | 623.0 | 1,462.5 | 3,368.6 |
Assets under custody | 175.5 | 22.1 | 1,348.1 | 969.8 |
Direct deposits | 473.3 | 197.4 | 1,402.1 | 488.5 |
TOTAL NET SALES | 807.0 | 842.5 | 4,212.8 | 4,826.9 |
PFA NETWORK TFA | MAY 2022 | DEC 2021 | MAY 2021 |
Assets under management | 51,796.6 | 54,891.9 | 49,353.6 |
Assets under custody | 16,550.2 | 17,050.0 | 15,890.1 |
Direct deposits | 24,091.4 | 22,689.3 | 21,615.7 |
TOTAL FINANCIAL ASSETS | 92,438.2 | 94,631.1 | 86,859.4 |
FinecoBank
FinecoBank is one of the most important FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers an unique business model in Europe, combining advanced platforms with a large network of financial advisors. It offers a single account with banking, trading and investment services, through transactional and advisory platforms developed with proprietary technologies. Fineco is a leading bank in brokerage in Europe, and one of the most important players in Private Banking in Italy, offering advanced and tailor-made advisory services. Since 2017, FinecoBank is in the UK with an offer focused on brokerage, banking and investment services. Fineco Asset Management was founded in Dublin in 2018, with the mission to develop investment solutions in partnership with top international asset managers.
Contacts: | |
Fineco - Media Relations | Fineco - Investor Relations |
Tel.: +39 02 2887 2256 | Tel. +39 02 2887 3736/2358 |
mediarelations@finecobank.com | investors@finecobank.com |
Barabino & Partners | |
Tel. +39 02 72023535 | |
Emma Ascani | |
e.ascani@barabino.it | |
+39 335 390 334 |
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FinecoBank Banca Fineco S.p.A. published this content on 08 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2022 09:31:05 UTC.
