Banca Generali's total net inflows in May amounted to 435 million, of which 228 million gathered by the Banca Generali network (1,133 million YTD) and 207 million gathered by Banca Generali Private Banking (749 million YTD).
Net inflows in May showed a strong acceleration of demand for financial advisory services, with a significant contribution by new customers. Total net inflows for the first 5 months of the year reached 1,9 billion, increasing by 51% on the same period of the 2014, which recorded the best ever result.
Noteworthy, net inflows were generated entirely by retail customers who rely on the specialised advisory services of Banca Generalis professionals to plan their investments in a complex financial environment marked by near-zero bond returns.
Among individual products, the multi-line policy BG Stile Libero continued to meet with great success, totalling 1,210 million YTD (+134% compared to the same period of the previous year). Since its launch in late February 2014, BG Stile Libero totalled 3.4 billion net inflows.
This product is highly appreciated thanks to its flexibility and the combination of capital protection through segregated accounts and geographical, sector and asset class diversification through over 800 funds and SICAVs both of Banca Generali and leading international investment houses.
Since year-start, the demand for funds/SICAVs also continued to grow sharply reaching 527 million (+206%). Among these, BG Selection SICAV and BG SICAV were particularly successful thanks to the wide choice of strategies and investment houses available, as well as the active and multi-asset management they offer.
The CEO of Banca Generali, Piermario Motta, commented: Our result grew sharply, mirroring households appreciation for our financial planning services. The renewed volatility of the past few weeks and the ongoing, significant economic and financial market uncertainties have not held back, but rather are accelerating the need for excellent advisory to protect household investments. We are very satisfied with the number of new customers and expert professionals who choose to work with us. This allows us to look with optimism to the coming months.