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Net Inflows July 2020

  • Net inflows totalled €528 million in July (€3,344 million YTD)
  • Net inflows of managed products at €444 million (€1,811 million YTD)

Milan, 4 August 2020 - Banca Generali’s total net inflows in July continued to be strong, in terms of both volumes (€528 million) and product mix, thanks to the sustained demand for managed and insurance solutions. Total net inflows reached €3.34 billion YTD, exceeding last years’ levels, despite the extraordinary COVID-19-related context.

July net inflows were chiefly concentrated on managed solutions, which are more diversified and highly customisable. In detail, the Luxembourg-based Sicav LUX IM (€110 million in July; €1.2 billion YTD) and the BG Solution financial wrappers (€57 million in July) were high in demand thanks to the customisation offered.

Furthermore, in July, net inflows of insurance products were particularly robust, both with regard to the insurance wrappers BG Stile Libero and LUX Protection Life (€118 million in the month; €475 million YTD) and to traditional policies (€141 million in the month; €294 million YTD).

With regard to AUC, €50 million structured products and securitisations were issued for a total of €607 million YTD.

Assets under Advisory (BGPA) further grew to €5.27 billion, up €150 million in July.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “The very positive net inflow trend for the year continued in July, exceeding the 2020 monthly average, and sharply growing compared to the same period of the previous year. The excellent work done by the existing Financial Advisors, supported by the resumption of recruiting activity, continued to contribute positively. In terms of investment solutions, we are especially satisfied with the net inflow mix: the Luxembourg platform Lux IM and all wrapper solutions collectively accounted for two thirds of net inflows from managed products, in addition to a very strong trend of assets under advisory. Diversification and customisation have always been two pillars of our commercial offer, along with a leading-edge digital platform. Thanks to the ongoing search for innovation and value creation, our professionals will increasingly make the difference, playing an ever more important role in a context of constantly growing demand for wealth advisory.

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