Excellent performance for Fineco's net inflows in November: despite the difficult context caused by the pandemic, the figure reached 611 million euros, up by as much as 59% compared to 384 million in the same month of 2019. The trend has actually been positive all year round, so much so that since the beginning of 2020 the balance has been with a plus sign of 7,7 billion, up by 50% compared to the same period of the previous year. Of these 7,7 billion raised so far, 3,5 billion have been for assets under management (+26%), 2,4 billion for assets under administration and 1,8 billion for direct deposits.
Fineco's total assets therefore amount to 89,5 billion euros (+11% on an annual basis), with a new record for private banking at 37,6 billion (+14%). In November, continues the press release of the asset management company, the asset mix of deposits saw a clear prevalence of the managed component, with 749 million, more than double the result of last year equal to 352 million. The administered component instead stood at -450 million after -148 million, while direct funding was 311 million after 180 million.
The structural growth of the brokerage, supported by the review of the offer and expansion of the base of clients active on the platform, as specified in a note, saw revenues of around 21 million, with a 67% increase over a year ago and since January the estimated revenues amount to approximately 213 million (+75% y/y). Furthermore, in the month of November, Fineco acquired 8.524 new customers and as at 30 November the total number of customers was 1.364.984.
