(Alliance News) - FinecoBank Spa reported Thursday that it recorded net inflows of EUR946 million in May.

The figure brings the total value of inflows since the beginning of the year to EUR4.0 billion.

In detail, assets under management weighed EUR364 million in May and EUR1.0 billion in the first five months.

Fineco Asset Management's inflows are EUR234 million in the month and assets total EUR32.3 billion.

Brokerage revenues in May are estimated at EUR19 million, up 70 percent from the monthly average for the three-year period 2017-2019, reaching EUR90 million since the beginning of the year, up 14 percent year-on-year.

Alessandro Foti, chief executive officer and general manager of Fineco, said, "The robust inflows figures for May confirm Fineco's attractiveness to customers who are particularly interested in using the bank's investment services, both with the support of financial advisors and because of the possibility of interacting directly with the markets through the brokerage platform. The acceleration in the number of new clients goes hand in hand with a market trend that is increasingly oriented toward more transparent and efficient advisory services, thus fostering a general strengthening of the managed component."

"Strongly emerging is the decisive role of the advisor network in accompanying clients along this path, using the full range of tools made available by evolved advisory services."

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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