• Total net inflows at €455 million in July (€3,724 million YTD)
• Net inflows of managed solutions and Advanced Advisory on Administered Assets  at €258 million (€1,867 million YTD)

Milan, 4 August 2023 – Banca Generali's net inflows amounted to €455 million in July, bringing the YTD total to over €3.7 billion, up 4% compared to the same period of the previous year. The solid July result takes into account the significant impact of tax obligation payments amounting to €179 million in the month (+82% YoY) and €620 million YTD (+46%).

With regard to products, net inflows of managed solutions amounted to €56 million (€735 million YTD). The uptrend of in-house funds continued (€81 million in July; €384 million YTD), benefiting from the launch of new protected-capital solutions.

Clients’ attention to assets under custody (AUC) remained high with €591 million in July (€5.5 billion YTD), as did demand for advanced advisory services, which stood at €183 million in July (€1,044 million in 2023).
Overall, net inflows from managed solutions and advanced advisory on administered assets amounted to €258 million in July, totalling €1.87 billion YTD (+30% YoY).

Chief Executive Officer and General Manager Gian Maria Mossa stated: “Our solid and constant growth continued even in a month marked by customers’ important tax deadlines, thanks to our highly-diversified products and services and to our quality bankers, who support households in their planning and protection choices. Despite the volatility due to economic trends and to the central banks’ policies, we continue to attract new clients and investments owing to our leading, higher value-added investment solutions, such as advisory and financial wrappers. In light of the steadily strong demand for advisory services we are very confident our growth will continue in the coming months.”