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Net Inflows February 2021

  • Total net inflows at €622 million in February (€1,015 million YTD);
  • Net inflows of managed solutions at €409 million (€634 million YTD);
  • New Assets under Advisory at €174 million (Total AuA assets at €6,333 million YTD);

Milan, 8 March 2021 - Banca Generali’s total net inflows amounted to €622 million in February (+15% YoY), nearly all attributable to high value-added managed and AUC solutions. Current accounts accounted for just 9% of total net inflows (€56 million).

In detail, managed solutions grew in February compared to the previous month, reaching €409 million and bringing the YTD total to €634 million. This result was mainly attributable to the Luxembourg-based Sicav Lux IM (€163 million in February; €232 million YTD) and to the insurance wrappers (€125 million in February; €234 million YTD), which were amongst the clients’ favoured solutions in a context of low and/or negative interest rates on bonds.

In February, net inflows of AUC solutions continued to increase (€256 million), benefiting from the expansion of the range of products and services, and particularly of the AUC portfolio advisory services offered through the RO4AD (Robo for Advisory) platform.

Overall, net inflows reached €1.02 billion YTD, marking an increase in volumes (+4% compared to €977 million for the same period of 2020) and in the managed asset mix quality (funds, financial and insurance wrappers), which accounted for 62% of the total, up compared to 49% for the previous year.

New Assets under Advisory amounted to €174 million in February (€317 million YTD), bringing the total amount to €6.3 billion.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “A very solid beginning to 2021, marking a further growth on the trend seen at the beginning of the previous year, which went on to become the best year ever in terms of net inflows through the existing network. We are an increasingly central player in the private-banking segment, where we are growing more rapidly, driven by our focus on bespoke investment solutions and wealth protection, yet we are also showing considerable strength in the affluent segment, thanks in part to the new savings and recurring plans, which are up by triple digits compared to the previous two-year period. Our bankers are doing great work alongside our clients during a challenging time for the economy, and our advanced and financial advisory figures via the platform bear witness to the quality of that work. The range of solutions we offer has been well received due to its enhanced focus on insurance wrappers over traditional life policies, along with robust diversification of asset management solutions, with a particular focus on thematic funds and Asian markets. Finally, we are meeting with strong interest from experienced bankers as well as young professionals in joining our organisation, a clear sign that at difficult times the solidity of our brand and the central role of financial advisors in our strategy are highly appreciated by the market.”

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