FinecoBank recorded net inflows of 357 million in August. "It should be noted that the taxes paid by customers had a significant impact on direct deposits for the month (221 million, +66 million on an annual basis) mainly attributable to the double installment of income taxes and VAT", explains the company's note. "After taxes - continues the note - the net monthly deposits would be slightly down compared to the same month of the previous year by 3%".
Assets under management amounted to 101 million, assets under administration amounted to 224 million and direct assets to 32 million. For FinecoBank, net inflows since the beginning of the year amounted to 4,4 billion (+15%) with a mix consistent with a more complex market situation compared to last year. Assets under management reached 1,8 billion, while assets under administration stood at 1,3 billion and direct deposits at 1,2 billion.
Total assets amounted to €70,4 billion (+5% compared to December 2017 and +9% on an annual basis). As at 31 August 2018, Fineco Asset Management had assets under management of €8,6 billion, of which €6,5 billion in the retail class and approximately €2,1 billion in the institutional class. The number of total customers as of August 31, 2018 exceeds 1.251.000, up 7% compared to the same period of the previous year.
The CEO, Alessandro Foti, commented: "In the context of the seasonality that characterizes the period, the collection data for August remains very solid".
