• Total net inflows at €509 million in June (€2,816 million YTD)
• Net inflows of managed products positive at €491 million (€1,367 million YTD)

Milan, 10 July 2020 - Banca Generali’s total net inflows amounted to €509 million in June, increasing compared to the previous month and signalling a further acceleration in the liquidity conversion trend started in the past few months. The YTD total exceeded €2.8 billion, confirming the Bank’s position as a point of reference for customers, especially in the private banking segment.

June net inflows was mainly concentrated on managed and AUC solutions, as a result of the use of the reinvestment of the liquidity gathered in the previous months. All the solutions offered, from funds and SICAVs to portfolio management and insurance solutions, showed a positive net balance, confirming the attention to service diversification and customisation.

In particular, the Luxembourg-based SICAV LUX IM grew (€121 million in June), and with €1.07 billion accounted for nearly 40% of total YTD net inflows. Net inflows of insurance wrappers (BG Stile Libero and LUX Protection Life) were also very satisfactory, with €82 million in the month and €357 million YTD. Traditional policies also performed well (€153 million YTD, of which €144 million in June).

With regard to AUC, noteworthy are the pace of reinvestment of liquidity on current accounts and the increase recorded by AUC solutions, thanks to dedicated RO4AD advisory services and structured products, which continue to be considered as a valid diversification solution and gathered €87 million net inflows in June and €557 million YTD.

Assets under Advisory (BGPA) also showed a structural growth, reaching €5.1 billion, up nearly €206 million in the month.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “June was the best month to date in terms of net inflows of managed products and very strong inflows overall, confirming the great work carried out by network professionals in advising their customers. The market recovery in the second quarter again drew investors towards managed solutions, with a growing attention to diversification of investment themes and to the protection offered by insurance wrappers. The exclusive features of our proprietary advisory platform are increasingly being seen as a point of reference for advanced advisory, as shown by the higher-than-expected business increase. Our professionalism and seriousness in our work are distinctive elements that both the market and clients appreciate and the confidence they continued to show in the first days of July are a reason for optimism and confidence in our ability to continue to grow also in the second half of the year, despite the currently difficult economic context.”