Banca Generali books inflows of €143m in April
In April, Italian financial services group Banca Generali posted a total net inflow of €143m, of which €87m was gathered by the Banca Generali network and €56m by Banca Generali Private Banking.
Mutual funds and portfolio management inflows were €24m for the same month.
According to the bank, this reflected the cautious but constant action of financial advisers in creating medium to long-term financial portfolios, favouring defensive or protected solutions.
“The April figure is particularly significant, as this month witnessed renewed sovereign debt tensions in Europe and a deterioration of the Italian and European macro-economic context. We would like to stress that inflows from new customers remained at excellent levels, as shown by the increase of administered products, especially securities,” the bank said in a statement.
Year to date, the network has gathered €453m, while Banca Generali Private Banking gathered €233m. Inflows of securities and current account assets increased during the month to €44m and €46m respectively.
Piermario Motta, chief executive at the bank, said: “Month after month, Banca Generali succeeds in maintaining absolutely excellent net inflow results on the Italian market.
“This trend is far from being at an end, thanks to the ability of our networks to successfully handle market volatility, the expertise that the main office structure has attained in supporting the network’s actions through effective marketing initiatives, and undoubtedly also thanks to the strength of our brand.”
Motta was appointed chief executive at the shareholder’s meetings on April 24. He took over from Angelo Girelli, who now serves as chairman.