Banca Generali net inflows hit €219m in May
Italy’s Banca Generali had net inflows of €219m in May, with €118m gathered by Banca Generali’s network and €101m by Banca Generali Private Banking.
The figures suggest inflows accelerated compared to previous months, despite renewed sovereign debt tensions in Europe.
With reference to the product mix, Banca Generali reported a good balance between the acquisition of new inflows and new customers, reflected in inflows from administered products – at €139m in May – and the shift towards longer-term savings products such as managed assets and insurance products.
“The creation of medium/long-term financial portfolios continues to favour defensive and protected solutions. Life new business yielded good results, with €91m inflows in May and an increase of 31% year on year,” the bank said in a statement.
Mutual funds and portfolio management focused on longer-term financial portfolios.
Piermario Motta (pictured), chief executive at the bank, said: “Banca Generali continues to prove a beacon in the asset management industry, especially during times of uncertainty and market volatility such as the present. This is due to the central role played by financial advisory in our business model, which is executed by professionals of unparalleled expertise in the industry who serve customers’ needs, with the support from dedicated head office personnel.”