Banca Generali posts highest net inflows in June

Italy’s Banca Generali has posted €1,412m net inflows in the first half of the year, €305m of which just in June, the best monthly figure ever seen by the bank.

H1 net inflows of managed products is near the level achieved in all of 2012 with €1,587 million (€328 million in June).

Banca Generali’s total net inflows for June ammounted to €305m, of which €179m was gathered by the Banca Generali network (€843mYTD), and €126m gathered by Banca Generali Private Banking (€569m YTD).

June saw the best monthly net inflow figure in the history of the bank, which in just six months has reached approximately 90% of the record-setting level achieved in all of 2012.

First half net inflows amounted to €1,412m, marking a 35% increase compared to the same period the previous year. The bank said it was an unparalleled result on a like-for-like consolidation area basis.

The acceleration in managed products, which reached €328m in June bringing the YTD total to €1,587 million, approached the level achieved during the previous year.

The banks said that despite ongoing uncertainty in markets and their even higher volatility of the past few weeks, the quality of the advisory service offered by Banca Generali’s professionals proved increasingly successful with customers.

According to Banca Generali’s data, asset management solutions stood out for their potential in terms of portfolio diversification and requalification.

The best performance was reported by funds and Sicav, with €139m
gathered in June and €1,020m YTD, the best result in the last five years.

Given the tensions surrounding rates and speculation relating to central banks’ intervention variables, products capable of protecting part of a portfolio, such as protected capital portfolio management (€69m for June) and multiline insurance products (in particular, the New Security policy), continued to be in high demand.

Banca Generali’s CEO Piermario Motta (pictured) commented: “In a climate of economic pressures and severe financial market volatility, we have succeeded in growing at double the pace compared to our best year.

“This is an extremely impressive and highly satisfying result that reflects our company’s professionalism and our financial advisors’ expertise. In this light, we look towards our prospects in the coming months with great confidence.”


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