Statistical Bulletin no. 26/2 - Intermediaries - March 2025
 

Financial intermediation in 2024

At the end of 2024, the value of financial instruments held with Italian intermediaries for the provision of investment and asset management services reached 4,052 billion euros up 3.4% compared to the figure at the end of 2023, driven by the increase in UCITs (+11.5%) and Italian equities (+20.8 %).

The volumes of activity related to the provision of investment services grew overall in 2024: placement of financial instruments rose by 10.1%, trading on own account by 74.5%, order execution by 10%, reception and transmission of orders by 7.8%. Gross premiums from the placement of insurance products with a predominant financial component distributed in Italy by Italian intermediaries supervised by Consob also showed strong growth (+32.6%), due to the rise in premiums related to the distribution of unit-linked policies (+33.5%).

At the end of 2024, the assets managed by Italian intermediaries amounted to 1,621 billion euros up 7.5% compared to the figure at the end of 2023 due to the increase in asset management on an individual basis (+4.4%), which accounts for about 65.3% of the total, open-ended UCITs under Italian law (+22.8%), and closed-ended UCITs under Italian law (+9.1%).

In 2024, net inflows from Italian-law open-ended UCITs were positive by about 48.6 billion euros, mainly driven by bond funds (+25.9 billion euros) and flexible funds (+23.2 billion euros) which largely offset outflows from equity, balanced, money and speculative funds.

The accounting data of Italian asset management companies at the end of 2024 show, in aggregate, a net profit of more than 1,865 million euros, with an increase of 400 million compared to the previous year, mainly due to the growth in net commissions (625.7 million euros which outweighed the increase in operating costs (175.3 million euros) and taxes (103.1 million euros). Italian investment companies recorded a net profit of 98.7 million euros, up 26.6 million euros compared to 2023, mainly due to the increase in net trading income (22 million euros) and to the reduction in operating costs (32 million euros) which more than offset the decrease in net commissions (32.5 million euros).

The Report was prepared by:
Gaetano N. Finiguerra (supervisor) -  CONSOB, Head of Statistics Office, Research Department (g.finiguerra@consob.it)
Emilio Ciccone - CONSOB, Statistics Office, Research Department(e.ciccone@consob.it)
Simona Di Rocco - CONSOB, Statistics Office, Research Department(s.dirocco@consob.it)

Thanks to Renato Grasso (coordinator) - CONSOB, Research division (r.grasso@consob.it), Matteo Modena (coordinator) - CONSOB, Research division (m.modena@consob.it) and Marco Taverna (coordinator) - CONSOB, Research division (m.taverna@consob.it)
 

Editorial secretary: Andrea Cianciullo

For information and clarifications write to: ufficio.statistiche@consob.it