Banca Generali’s fund assets 24% up yoy

Italy’s Banca Generali asset management unit has posted net inflows of €3bn from January to September, the latest report showed.

The result marks a 24% rise year-on-year, “which was influenced by non-recurring items,” the group said.

“In the period between July and September, volatility did not cause concerns among clients who were supported by our prompt and accurate
professionals’ advice on prudent diversification,” the note read.

Net inflows for the period were mainly generated by managed and insurance products (89% of total).

Among individual solutions, BG Stile Libero continued to meet with great success.
Launched at the beginning of March 2014, the multi-line policy gathered €4bn net inflows in 19 months only (€432m for Q3 2015). The product is highly appreciated thanks to its
flexibility, as it combines insurance segregated accounts and a wide range of funds.

Total assets rose by 17% to €39.3bn.

Managed and insurance assets reached €30bn, up 20% yoy. Their ratio to total assets grew to 76% (75% for the first nine months of 2014).
Assets under administration rose to €9.3bn (+9.1%), reflecting the constant acquisition of new clients and a higher share of wallet of existing clients.

The bank reached all-time records in net inflows, total assets, and recruitment of highly experienced professionals. The focus on the household segment, particularly private customers, is marked by the Bank’s commitment to developing customized solutions for both investment products and financial advisory services.

The CEO of Banca Generali, Piermario Motta (pictured), commented: “In nine months, we exceeded the result for FY 2014 — which had been our best year ever — while also improving all the main financial and capital ratios.

“Last summer’s strong volatility further heightened investors’ appreciation for the quality of our asset management and investment protection solutions, as well as for our highly professional financial advisers.

“The product mix and advisory service innovation are distinctive features that enhance our skills and are leading us towards a likely excellent last part of the year.”

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