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Net Inflows September 2020

  • Total net inflows amounted to €390 million in September (€4,065 million YTD)
  • Net inflows of managed solutions and life insurance at €117 million (€2,065 million YTD)

Milan, 9 October 2020 - Banca Generali’s total net inflows amounted to €390 million in September, and nearly €4.1 billion YTD. On both a monthly and yearly basis, the figure was far above that of the previous year, confirming the Bank’s ability to grow in any market condition.

Our solid commercial trend was also supported by an excellent product mix. Managed solutions more than doubled at both a monthly level (€154 million; +105%) and YTD level (€1,836 million; +111%). Worthy of notice was once again the sound contribution of the Luxembourg-based Sicav LUX IM (€83 million; €1.3 billion YTD). Net inflows of managed wrappers continued to grow (€63 million in September; €586 million YTD), driven by financial wrappers BG Solution thanks to new lines and its customization features.

In September, AUC products also rose significantly (€273 million), driven by the liquidity on current accounts (€159 million) that - according to our experience – will be invested in managed solutions in the subsequent months on the base of an accurate investment planning. With regard to AUC, €30 million structured products and securitisations were issued for a total of €690 million YTD.

Assets under Advisory (BGPA) totalled €5.4 billion, up by a net amount of €633 million YTD.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “September was yet another month of strong demand for advisory service. We constantly grew both across all our commercial solutions and in comparison with the previous year. Over €4 billion total net inflows and €2 billion net inflows from managed solutions, despite the impact of the crisis and the renewed market volatility, are a significant result. Our commitment to digital tools and constant expansion of our products and services are meeting with great appreciation from our clients and professionals, as they provide solutions ideally suited for building bespoke portfolios. The increasing attention we are receiving from entrepreneurs and experienced bankers confirms that we are heading in the right direction, with an open banking and wealth management model that stands out in our sector. Although the uncertain outcome of the U.S. elections and the effects of the pandemic urge caution, the trend we have witnessed in recent weeks makes us confident that the Bank will end the year on a positive note.”

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