- Total net inflows at €206 million in August (€3,797 million YTD)
- Net inflows of managed solutions at €51 million (€1,212 million YTD)
Milan, 9 September 2022 - Total net inflows amounted to €206 million in August, bringing the YTD figure to nearly €3.8 billion. This positive result was achieved despite the months’ seasonality, which was further worsened by the geopolitical tensions and the financial markets’ volatility. In addition, the result also takes into account the €193.9 million taxes paid, further up compared to €132.3 million in August 2021.
In the summer season, the Bank continued to focus on assisting its clients in grasping market opportunities through an approach based on diversification, protection and advanced advisory.
In detail, AUC amounted to €198 million in August (€1.9 billion YTD), with Assets under Advisory (BGPA) reaching €7.0 billion at the end of the period.
Net inflows from managed solutions amounted to €51 million (€1.2 billion YTD), thanks to the steady net inflows of funds (€58 million; €528 million YTD) and financial wrappers (€34 million; €434 million YTD).
Chief Executive Officer and General Manager Gian Maria Mossa stated: “The rising market volatility and the renewed energy and inflationary pressures of recent weeks are driving private clients to cautiously seek protection. Notwithstanding the impact of taxes paid in the period, the inflationary pressures and the macroeconomic and geopolitical uncertainties, we continue to record positive net inflows thanks to the quality of our advisory services and to our wide range of products, which are able to best meet our clients’ needs. Despite the economic challenges and geopolitical unknowns, we are confident that we will continue to grow in line with our targets.”
