Net fund-raising by investment funds tripled by comparison with 1996 and amounted to 143 trillion lire. In the first nine months of 1997, the net inflow of resources to portfolio management services nearly doubled to 64 trillion lire, while premiums paid in respect of life insurance policies grew more moderately, increasing by 44 per cent.
The differences between the products offered by the various categories of intermediary have narrowed. About one-quarter of the funds raised by portfolio management services were reinvested in investment funds.