BANCA GENERALI S.P.A. CONTACTS:
www.bancagenerali.com
Media Relations Michele Seghizzi
Tel. +39 02 6076 5683
michele.seghizzi@bancagenerali
.it
Investor Relations Giuliana Pagliari
Tel. +39 02 6076 5548
giuliana.pagliari@bancagenerali.
it
Total net inflows exceeded €3.0 billion in nine months (€222 million in September)
Net inflows in managed products at €2.7 billion YTD (€127 million in September)
Milan, 6 October 2015 - Total net inflows in September amounted to €222 million, of which €146 million gathered by Banca Generali's Financial Planner network (€1,756 million YTD) and €76 million gathered by Banca Generali Private Banking (€1,260 million YTD).
The upward trend of net inflows (€3,016 million YTD) reflects the clients' needs for specialised advisory to protect their investments, particularly during periods of increasing volatility as was the case in September. Despite the strategic focus on the Bank's convention, the seasonal effects of the holiday period and the ongoing stock market uncertainties, September showed a remarkable result. The quarter reported a growth over the same period of the previous year (€780 million compared to €770 million in Q3 2014).
Versatile managed solutions continued to be in high demand. In particular, BG Stile Libero continued to meet with great success, thanks to its combination of segregated accounts, insurance coverage and personalised investments in funds and SICAVs of leading international management firms. Net inflows of this multi-line policy amounted to €94 million in September (€1,867 million YTD).
Lastly, as shown by the net inflow balance of assets under administration (€95 million) - which are the first step in asset migration - the flow of new clients continued to increase.
The CEO of Banca Generali, Piermario Motta, commented: 'Three billion net inflows from households in nine months are a remarkable result, testifying to the outstanding quality of our highly professional and productive network. Our versatile and flexible solutions enable our financial advisors to concretely and effectively meet the clients' needs, even in periods of strong market volatility and uncertainty. The investors' confidence in our Bank and the experienced professionals who continue to join us are the best ingredients for the last quarter of a year marked by strong growth.'
CONTACTS:
www.bancagenerali.com
Media Relations Michele Seghizzi
Tel. +39 02 6076 5683
michele.seghizzi@bancagenerali
.it
Investor Relations Giuliana Pagliari
Tel. +39 02 6076 5548
giuliana.pagliari@bancagenerali.
it
Million of Euros | Sep 2015 | Aug 2015 | Abs. Chg |
Mutual Funds | 2 | 104 | -102 |
Managed Portfolio | 1 | -64 | 65 |
Mutual Funds and Managed Portfolio | 3 | 40 | -37 |
Life Insurance | 124 | 151 | -27 |
of which BG STILE LIBERO | 94 | 125 | -31 |
Managed Assets | 127 | 191 | -64 |
Non Managed Assets | 95 | 26 | 69 |
of which: Securities | 37 | 48 | -11 |
Total | 222 | 217 | 5 |
Jan-Sep 2015 | Jan-Sep 2014 | Abs. Chg | |
Mutual Funds | 735 | 588 | 147 |
Managed Portfolio | -161 | 158 | -319 |
Mutual Funds and Managed Portfolio | 574 | 746 | -172 |
Life Insurance | 2,121 | 2,168 | -47 |
of which BG STILE LIBERO | 1,867 | 1,201 | 666 |
Managed Assets | 2,695 | 2,914 | -219 The |
Non Managed Assets | 321 | 171 | 150 |
of which: Securities | -292 | -337 | 45 |
Total | 3,016 | 3,085 | -69 |
The Manager responsible for preparing the company's financial reports (Stefano Grassi) declares, pursuant to Paragraph 2 of Art. 154-bis of the Italian Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documentary results, books and accounting records.
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