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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 at €416 million in March (€1,530 million YTD)
Net inflows of managed products at €272 million (€838 million YTD)
Milan, 1 April 2016 - Banca Generali's March net inflows were marked by strong volumes and the success of managed products, spurred by mutual funds, multi-line policies and new portfolio management solutions.
Products such as funds, SICAVs and multi-line policies (BG Stile Libero), which were again in the spotlight in March thanks to the opportunities they offer, totalled net inflows of €148 million for the month. In addition, new portfolio management solutions (BG Solution) immediately attracted much interest thanks to their highly customised investment strategies and service profiling. Albeit remaining in positive territory, traditional policies slowed down, after the sharp growth reported in previous months (€125 million in March; €614 million YTD), as a result of market improvements.
Lastly, assets under administration and custody continued to generate strong inflows (€144 million in March; €692 million YTD) as a result of the constant acquisition of new customers who first transfer their securities accounts and subsequently analyse financial planning opportunities.
General Manager Gian Maria Mossa stated: "This was the best first quarter ever for our Bank in terms of net inflows. March saw a marked furtherance of the trend of acquisition of high-standing professionals and new customers who appreciate Banca Generali's solidity and professionalism in offering all-round capital protection. The Bank's ability to innovate have led to solutions that immediately met with great success, as confirmed by the performance of new portfolio management solutions. Unfortunately, March was marked by the untimely passing of our CEO Piermario Motta, who left an empty space in our lives, but also the clear awareness that the path he has drawn is just the beginning and that the great professional skills of the team he has formed will be able to achieve new and ambitious goals."
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Million of Euros | Mar 2016 | Feb 2016 | Abs. Chg |
Mutual Funds | 23 | -37 | 60 |
Managed Portfolio | 42 | -6 | 48 |
Mutual Funds and Managed Portfolio | 66 | -43 | 109 |
Life Insurance | 207 | 496 | -289 |
of which BG STILE LIBERO | 82 | 129 | -47 |
Managed Assets | 272 | 453 | -181 |
Non Managed Assets | 144 | 131 | 13 |
of which: Securities | 5 | -16 | 21 |
Total | 416 | 584 | -168 |
Jan-Mar 2016 | Jan-Mar 2015 | Abs. Chg | |
Mutual Funds | -85 | 298 | -383 |
Managed Portfolio | 56 | 39 | 17 |
Mutual Funds and Managed Portfolio | -29 | 337 | -366 |
Life Insurance | 867 | 763 | 104 |
of which BG STILE LIBERO | 253 | 686 | -433 |
Managed Assets | 838 | 1,100 | -262 |
Non Managed Assets | 692 | 42 | 650 |
of which: Securities | 161 | -239 | 400 |
Total | 1,530 | 1,142 | 388 |
Life New Business | |||
Mar 2016 | Feb 2016 | Abs. Chg | |
Life New Business | 282 | 592 | -310 |
Jan-Mar 2016 | Jan-Mar 2015 | Abs. Chg | |
Life New Business | 1,151 | 1,125 | 26 |
The Manager responsible for preparing Banca Generali'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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Banca Generali S.p.A. issued this content on 01 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 April 2016 15:54:28 UTC
Original Document: http://www.bancagenerali.com/site/en/home/investor-relations/press-releases/documento10006834.html