Italy’s Banca Generali posts €181m net inflows in July

Net inflows of managed products reached
€237m in July(€1,824m YTD, as use of financial advisers continued to grow, Banca Generali has said.

Of total €181m net inflows, €115m came from Banca Generali’s network (€958 million YTD) and €66m from Banca Generali Private Banking (€635 million YTD).

The bank continued to focus on acquiring new customers and recruiting expert advisers to expand its networks, Banca Generali said.

According to the report, net inflows for the past few months were marked by an interest in asset management and insurance products, confirming growing investor attention in planning and diversifying risks.

Among managed products, the uptrend that has characterized funds and Sicav since the beginning of 2013 continued in July with net inflows of €121m, reaching a total amount of €1,141m for the first seven months of the year.

Insurance policies continued to attract investors’ attention and are among the most appreciated solutions for those seeking to protect a portion of their portfolios, the bank’s report also said.

Life new business amounted to €130m, €781m YTD. As the bank’s report also reads, BG New Security was among the policies in highest demand as it allows customers to flexibly combine equity investments and segregated portfolios with
capital protection.

Banca Generali CEO Piermario Motta (pictured) said: “Early-summer volatility has led households to pursue a greater and accurate diversification of their investments, thus opening up to financial advisory services and asset management opportunities.”

“In July, we continued to acquire new customers and recruit selected and highly expert financial advisers, who deem that our flexible and effective solutions can best protect the interests of their customers.

“Such results are very satisfying, and net inflows, which in seven months have reached the same figures of 2012, allow us to look at the coming months with confidence and enthusiasm.”

 

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