Banca Generali sees strong increase in AUM

Italy’s Banca Generali has posted total net inflows of €2bn YTD, bringing total AUM to €28.2bn, up by 10% compared with 2012.

As Banca Generali report said, net profit have also gone up by 8%, reaching a net total of €105m.

In October, Banca Generali reported net inflows of €160m. Customers’ demand for asset management products continued, bringing the amount of new inflows for such products to €194m in October.

According to Banca Generali, market trends are shifting customers’ attention towards managed solutions (funds, SICAVs and insurance products), which offer greater diversification and a choice among financial instruments and asset range compared to administered products.

Net inflows of funds/SICAVs stood out among overall net inflows, recording the highest result ever at €1,289m. Net inflows were mainly related to flexible in-house and thirdparty (bond and equity) products, as is traditional within our open architecture model, the bank said.

Insurance products also continued to be in high demand, thereby confirming the high level of attention received in recent years, the report reads.

Managed and administered assets grew by 7.7% YTD to €28.2bn (+10% compared to €25.5 billion for the previous year); while administered assets slightly decreased to €7.8bn (from €7.9bn for the third quarter of 2012).

Banca Generali CEO Piermario Motta (pictured) commented: “We are very satisfied with the ongoing growth of our bank, which beside driving us towards new peak results also highlights our highly effective business model.

“In the third quarter of 2013, we grew both in terms of profitability but
also of capital solidity, as a result of constantly improving net inflows and a significant business development, driven by recurring business rather than extraordinary finance. In the reporting period, our team was also reinforced by the addition of expert professionals and highly skilled managers who will help us lead the Bank towards even more ambitious milestones.”

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