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Net Inflows August 2020

Milan, 9 September 2020 - Banca Generali’s total net inflows amounted to €331 million in August, with a YTD total of nearly €3.7 billion, exceeding that for the same period of the previous year despite the extraordinary COVID-19-related context.

August net inflows favoured the most advanced managed solutions (€165 million; €1.7 billion YTD) even taking into account the seasonality of the period. Managed solutions doubled compared to the previous year, driven by the Luxembourg-based Sicav LUX IM (€59 million in August; €1.2 billion YTD) and the BG Stile Libero insurance wrappers (€35 million in August; €510 million YTD).

With regard to AUC, €54 million structured products and securitisations were issued for a total of €660 million YTD. Liquidity on current accounts amounted to €88 million (€389 million YTD).

Assets under Advisory (BGPA) further grew to €5.4 billion, up €112 million in August.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “This is a very solid result, better than last year and even more significant when considering the economic context and climate of uncertainty in which it was achieved, in addition to the seasonality of the period. We are experiencing a strong interest, not only from clients, but also from Wealth Managers who are seeking to develop their competencies and professionalism and appreciate Banca Generali’s openbanking model and flexible, high-quality offer. Our focus on Assets under Advisory and thematic, alternative solutions — which set our Company apart — continues to drive a dynamic performance in managed products and services, reinforcing our confidence in the final part of the year.”

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