Banca Genreali books inflows of €123m in November
Total net inflows of Banca Generali in November amounted to €123m, of which €97m gathered by the Banca Generali network (€1,349m YTD) and €26m gathered by the Banca Generali Private Banking (€780m YTD).
The bank also saw positive inflows into managed products for a total net of €204m for the month under review, bringing YTD figure to an all-time high at €2,474m.
Accordingly, costumers continued to show strong demand for managed
solutions that can meet their needs for diversification and seize investing opportunities offered by international markets, the bank also said.
Net inflows generated by funds and Sicavs and asset management totalled €1,429m YTD, up 245% compared to the same period of the previous year.
Interest in insurance products remained high as a result of the positive performance of segregated accounts whose certified returns averaged 4.46% for the past 12 months, exceeding returns on Italian three- and five-year bonds (BTPs). Life new business totalled €294m in November, and €1,708m YTD (+31% compared to the previous year).
The CEO of Banca Generali, Piermario Motta (pictured), commented: “The market has continued to show strong interest in financial advisory services, with investors’ preferences converging towards specialised firms marked by a consolidated reputation and professional quality.
“Our results and constant growth have brought us near the important milestone of €2.5bn net inflows of managed assets this year.”