Italy’s Banca Generali attracts €103m in September
Italy’s Banca Generali has posted €103m net inflows in September, with brings to €1.36bn inflows since the beginning of the year.
In a statement, the bank confirmed €424m were collected by Banca Generali Private Banking, and €938m by the network of financial advisers owned by the bank.
Net inflows increased by 75% compared to September 2011.
Over the last year, the bank, headed by chief executive Piermario Motta (pictured), has made a strong effort to refocus the target of its financial advisers’ network towards a more affluent client base.
Each adviser has an average portfolio under management of €16.8m.
In September, Oddo AM, Alliance Bernstein and Aberdeen AM announced the launch of a fund of funds managed on behalf of the bank. The three funds are included in Banca Generali’s BG Selection Sicav.
An interview with Piermario Motta will be published in Investment Europe 34.