PRESS RELEASE
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 amounted to €122 million in September (€1,846 million YTD)
Net inflows of managed products reached
€135 million (€2,076 million YTD)
Milan, 4 October 2013 - Total net inflows of Banca Generali in September amounted to €122 million, of which €82 million gathered by the Banca Generali network (€1,146 million YTD) and€40 million gathered by Banca Generali Private Banking (€700 million YTD).
The extremely positive trend of inflows continued also in September, setting new records in the Bank's history. Despite some extemporaneous variables, related both to the markets and the financial advisors' planning commitments typical of this period, the result highlights the customers' strong demand of qualified advisory and the effectiveness of the range of products and services.
Net inflows YTD totalled €1,846 million, with a significant contribution of asset management solutions, which also reached new peaks for the company at €2,076 million (+111% compared to the same period of last year).
The products in greatest demand in September notably included managed insurance investments, in response to the market complexities and the uncertainties that have returned to the forefront of the political and monetary policy scenarios. The guarantees and control of volatility, in addition to a highly attractive return, remained a plus for Banca Generali's range of products that met with great appreciation from its customers.
Life new business totalled €146 million in September, and €986 million YTD. This excellent result was driven to a significant degree by the success of the new policy BG Cedola Più. In addition to the traditional strengths cited above, this policy offers the option of annual distribution of the return generated by the underlying segregated account.
The CEO of Banca Generali, Piermario Motta, commented: "In nine months we have succeeded not only in exceeding our record results of 2012, but also in approaching the ambitious annual milestone of €2 billion net inflows, which now seems at hand. September further confirmed the value and versatility of our organisation, with extremely positive responses from customers, even during an especially difficult month. This period was marked partly by the customary managerial planning of year-end activities that requires the involvement of our professionals, but also, and most importantly, by the exceptional volatility and the political uncertainty witnessed over the past few weeks. The ability to respond promptly and effectively to investors' needs, even when faced with complex external variables, is a recognised distinctive trait of Banca Generali that
strengthens our optimism for the final part of the year."
1 / 2PRESS RELEASE
Million of Euros Sep 2013 Aug 2013 Abs. Chg
Mutual Funds 2 79 -77
Asset Management -2 -6 4
Mutual Funds and Managed Portfolio 0 73 -73
Life Insurance 135 44 91
Managed Assets 135 117 18
Non Managed Assets -13 14 -27
of which: Securities -119 -42 -77
Total 122 131 -9
Jan-Sep 2013 Jan-Sep 2012 Abs. Chg
Mutual Funds 1,222 190 1,032
Asset Management 73 48 25
Mutual Funds and Managed Portfolio 1,295 238 1,057
Life Insurance 781 746 35
Managed Assets 2,076 984 1,092
Non Managed Assets -230 378 -608
of which: Securities -375 72 -447
Total 1,846 1,362 484
Life New Business
Sep 2013 Aug 2013 Abs. Chg
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
Life New Business 146 59 87
Jan-Sep 2013 Jan-Sep 2012 Abs. Chg
Life New Business 986 1,040 -54
***
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.
2 / 2distributed by |