Italy’s Banca Generali posts strong December inflows

Italy’s Banca Generali has posted €88m net inflows in December. Total net inflows for 2012 were €1,602m, of which €1,131m gathered by the Banca Generali network and €471m by Banca Generali Private Banking, the firm said.

In December, the firm posted a considerable pick-up of inflows of asset management products compared to the previous months.

Maturing securities and other administered products continued to be transformed into asset management solutions with the aim of diversifying portfolios and maximising return on investment.

Overall, net inflows of managed products amounted to €219mfor the month, compared to
outflows of €131m from administered products.

In all of 2012, total net inflows reached €1,602m (+27%) and were composed solely of asset management products (€1,627m or +210%).

Within the asset management category, inflows of funds and portfolio management showed significant growth (€98m in December and €512m to date).

Insurance products also continued to register a good performance: life new business amounted to €123m for the month, bringing the balance since the beginning of the year to €1,430m.

“The net inflows figure achieved in 2012 is one of the best results of all time in terms of both volumes and product mix. We are very proud of this result, which reflects the Bank’s strengths: the quality of our financial advisory service, the recognised professionalism of our network, our constant innovation in product offerings, significant investments in technological infrastructure and, last but certainly not least, the strong performances generated for our clients despite the defensive investment approach,” said Piermario Motta, chief executive at the firm.

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