The bank's asset management products posted net inflows of €117m, with a negative result of €6m in portfolio management.
The bank’s asset management products posted net inflows of €117m, with a negative result of €6m in portfolio management.
Total net inflows came to €131m in August, bringing the total YTD at €1.7bn. Net inflows of AM products reached €117m, for a total of €1.9bn YTD, Banca Generali report said.
Of total net inflows, €106m came from Banca Generali’s network and €25m from the bank’s private banking arm.
“The severe market volatility of the past few weeks has further heightened customers’ attention towards investment advisory, as shown by the positive net inflows performance. The recent recruitment of high-profile professionals at the beginning of the summer also contributed to this result,” the bank said.
In line with previous months, most net inflows in August (€79 million) were generated by funds and Sicavs, which brought the YTD figure to €1.2bn, accounting for over 70% of total net inflows.
CEO Piermario Motta (pictured) commented: “Our August result bears witness to the high level of professionalism of our investment advisers. Against the backdrop of exceptional stock market volatility, they remained at customers’ sides even during the traditional vacation period to promptly and accurately face the challenges posed by the market.
“The constant increase of inflows of managed assets reflects the strong focus on portfolio diversification and the quality of our various solutions aimed at safeguarding investors. These factors have set our bank apart for years and allow us to look with confidence towards our prospects for the coming months.”