Italy’s Banca Generali’s net inflows stood at EUR246 million in May, bringing the year-to-date (YTD) total to over EUR1 billion. This represents an increase of 20% compared with the inflows recorded in the first five months of 2012.
According to a company statement, of the total net inflow in May, EUR145 million were contributed by Banca Generali’s network (EUR664mn YTD) and EUR101 million by the group’s private banking division (EUR443 million YTD).
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In a low interest rate environment, Banca Generali pointed out, customers’ strong demand for seizing investment opportunities is being increasingly satisfied, thanks to a wide, versatile range of products.
Banca Generali also saw an increase in funds and Sicavs, which in May managed to generate inflows of EUR285 million, bringing the year-to-date (YTD) total to EUR881 million.
The group highlighted that this is the best result of the past five years and comes as twice the amount reported at the end of 2012.
In the area of administered products, considerable amounts of bonds, and Italian government bonds in particular, reached maturity. Accordingly, customers intensified the process of shifting such assets into managed products, with the aim of seizing the investment opportunities offered by international markets and diversifying their portfolios. The net balance showed outflows of EUR113 million in May and EUR152 million YTD, according to the statement.
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By GlobalDataThe CEO of Banca Generali, Piermario Motta, said: "Over EUR1 billion in net inflows in five months, with an increase of 20% compared to the same period of the previous year, the best in the bank’s history, represents a key milestone of which we are proud.
"In addition, the uptrend in assets under management reflects the quality of a versatile range of products focussed on highgrowth areas in which we stand apart thanks to the proven expertise of our asset managers," Motta added.
