PRESS RELEASE
DECEMBER: BEST NET SALES EVER, RECORD HIGH AUM
NET SALES SINCE THE BEGINNING OF THE YEAR € 9.3 BILLION, AUM € 4.3 BILLION
- December net sales at € 1.6 billion. Asset under Management at € 791 million
- Net Sales in Guided Products at € 726 million
- FAM: December retail net sales at € 228 million, assets at € 16.3 billion
- Brokerage: estimated revenues in December +54% y/y, YTD +73% y/y
Milan, January 11th, 2021
In December, Fineco recorded its best net sales ever, at € 1.6 billion, +119% compared to the same month of 2019 (€ 721 million), gathered without short-term commercial initiatives. The asset mix recorded a strong contribution by Asset under Management, that broke a new record high at €791 million, increasing by 63% y/y (from € 485 million as of December 2019). Asset under Custody were equal to € 86 million and Deposits stood at € 706 million. Net sales since the beginning of the year reached €9.3 billion, +59% compared to 2019 (€ 5.8 billion), with Asset under Management at € 4.3 billion, +31% compared to 2019 (€3.3 billion).
Brokerage growth confirms its structural trend, thanks to both the reshaping of our offer and the enlargement of our base of clients. In December, revenues were estimated at € 16.5 million, +54% y/y. Estimated revenues since the beginning of the year reached around € 229 million, +73% y/y. Executed orders reached 46.8 million, +85% compared to 2019 (25.3 million).
RECORD HIGH AUM | BROKERAGE, CONTINUOUS GROWTH IN 2020 |
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"Oustanding December net sales figures, the best ever recorded by Fineco, are even more relevant considering the acceleration in Asset under Management during the last months of 2020. This confirms the ability of our financial advisors to meet our clients' needs, also thanks to the new products launched by Fineco Asset Management, and leads the way for new opportunities in the coming year. Brokerage ends 2020 with a particularly positive result, enhancing its revenues in every single month and highlighting the enlargement of the base of clients interested in investing in the markets".
figures in € million | ||||
TOTAL NET SALES | DEC 20 | DEC 2019 | JAN-DEC '20 | JAN-DEC '19 |
Assets under management | 791.1 | 484.5 | 4,295.8 | 3,272.9 |
Assets under custody | 85.6 | -206.9 | 2,481.7 | -953.2 |
Direct deposits | 706.0 | 443.8 | 2,505.6 | 3,520.7 |
TOTAL NET SALES | 1,582.6 | 721.4 | 9,283.2 | 5,840.4 |
TOTAL FINANCIAL ASSETS | DEC 20 | DEC 2019 | |
Assets under management | 45,381.5 | 40,505.4 | |
Assets under custody | 18,313.7 | 15,323.8 | |
Direct deposits | 28,014.0 | 25,589.7 | |
TOTAL FINANCIAL ASSETS | 91,709.1 | 81,418.8 | |
Guided Products & Services, 2020 net sales at € 4.2 billion
Net sales in Guided Products & Services stood at € 726 million in December, increasing by 22% compared to December 2019 (€ 597 million). Since the beginning of the year, net sales totalled € 4.2 billion (+12% y/y). The penetration rate of Guided Products reached 74% on total Asset under Management compared to 71% at the end of 2019.
Total Financial Assets above € 91.7 billion. Private Banking reached € 38.6 billion, +15% y/y
Total Financial Assets were at a € 91.7 billion (+13% y/y). In particular, TFA related to Private Banking hit a new record at € 38.6 billion, increasing by 15% compared to € 33.4 billion in December 2019.
FAM, retail net sales in 2020 at € 2.1 billion, +25% y/y
Fineco Asset Management retail net sales in December amounted to € 228 million. Since the beginning of the year, retail net sales were € 2.1 billion (+25% from € 1.7 billion of 2019). As of December 31st, 2020 FAM managed € 16.3 billion of assets, of which € 10.5 billion retail class (+26% y/y) and € 5.8 billion institutional class (+6% y/y).
Over 11,000 new clients in the month
In December, 11,058 new clients have been acquired, confirming the trend highlighted after the announcement of the Smart Repricing on our banking services with a better quality of new customers, and an increase in average Total Financial Assets of new current accounts. Total number of customers reached 1,369,814 as of December 31st, 2020.
figures in € million
PFA NETWORK NET SALES | DEC 20 | DEC 2019 | JAN-DEC '20 | JAN-DEC '19 |
Assets under management | 766.7 | 480.1 | 4,285.1 | 3,278.5 |
Assets under custody | 20.6 | -205.0 | 1,698.3 | -797.6 |
Direct deposits | 456.9 | 266.8 | 2,000.9 | 2,640.1 |
TOTAL NET SALES | 1,244.2 | 541.9 | 7,984.2 | 5,121.0 |
PFA NETWORK TFA | DEC 20 | DEC 2019 | ||
Assets under management | 44,893.8 | 40,012.3 | ||
Assets under custody | 13,622.9 | 11,467.4 | ||
Direct deposits | 21,127.2 | 19,207.7 | ||
TOTAL FINANCIAL ASSETS | 79,644.0 | 70,687.3 | ||
EXECUTED ORDERS | DEC 20 | DEC 19 | ||
Equity Italy | 18,520,281 | 12,311,658 | ||
o/w internalized | 4,807,638 | 3,315,551 | ||
Equity US + other markets | 10,517,802 | 4,190,797 | ||
Bonds | 695,535 | 760,454 | ||
Derivatives | 9,904,830 | 3,707,601 | ||
o/w internalized Italy | 893,480 | 340,438 | ||
CFD | 3,441,799 | 1,598,541 | ||
Other | 3,704,679 | 2,778,097 | ||
TOTAL EXECUTED ORDERS | 46,784,926 | 25,347,148 |
FinecoBank
FinecoBank is one of the most important FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers a business model that is unique in Europe, combining the best platforms with a large network of financial advisors. It offers a single account with banking, trading and investment services, on 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 has also been in the UK with an offer focused on brokerage, banking and investment services. Fineco Asset Management was founded in Dublin in 2018, with a 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 S.p.A. published this content on 11 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2021 07:19:00 UTC