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PR: Net Inflows October 2019

Total net inflows amounted to €309 million in September (€3,776 million YTD)

Net inflows of managed products at €186 million (€1,867 million YTD)

Assets under Advisory at €4.4 billion (+€2.1 billion YTD)

 

Milan, 9 October 2019 – Banca Generali’s net inflows amounted to €309 million in September, bringing the YTD total to €3.8 billion. The monthly figure is rather positive in light of the seasonality and the €109.6 million taxes paid in the period by the clients.

Last summer’s yield decreases impacted the net inflows mix. The generalised profit-taking on European government bonds reflected on the AUC performance, with a reduction in securities accounts.

At the same time, net inflows of management and insurance products grew, mainly driven by the Luxembourg-based Sicav LUX IM (€92 million in September; €1.5 billion YTD) and insurance products (€116 million in September; €1.2 billion YTD) which are currently being transitioned to new hybrid wrappers and a particularly distinctive, highly customisable private insurance solution.

Assets under Advisory continued to grow significantly, rising to €4.4 billion, up €100 million September and €2.1 billion YTD.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “The rate pressures and market volatility seen over the summer weeks are fuelling demand for professional wealth protection advice. The quality of our bankers and our constant efforts to expand and innovate our range of products and services are increasingly appreciated by clients, as shown by our solid September performance and the increase in net inflows from managed products. We are garnering considerable attention, not just from households, but also from a large number of entrepreneurs who are interested in receiving advice with their most complex transactions. This allows us to look toward the final part of the year with great confidence."

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