PRESS RELEASE
Total net inflows at €695 million in July (€4.5 billion YTD)
Net inflows of managed solutions at €457 million (€2.95 billion YTD)
Assets under Advisory (AuA1) at €6.9 billion
CONTACTS:
www.bancagenerali.com
Media Relations
Michele Seghizzi
Tel. +39 02 40826683
michele.seghizzi@bancagenerali.it
Investor Relations
Giuliana Pagliari
Tel.: +39 02 40826548
giuliana.pagliari@bancagenerali.it
Milan, 5 August 2021 - Net inflows amounted to €695 million in July (+32% YoY), bringing the YTD total to €4.5 billion (+34% YoY).
The increase in net inflows was characterized not only by its significant volumes but also by the quality of its composition. Managed solutions accounted for 66% of total net inflows both for the month with €457 million (+51% YoY) and YTD with €2.95 billion (+94% YoY).
Among individual products, Lux IM Sicav continued to stand out for its growth trend and expanded its offering in late July, introducing a wide range of new strategies. Its net inflows reached €143 million in July (€850 million YTD), driving a strong increase in overall retail funds/Sicavs (€271 million in July, €1.7 billion YTD).
We also registered a strong demand for insurance wrappers (€129 million in July, €836 million YTD), which have now established as the insurance solution of reference in light of the current bond market context.
Liquidity also increased, mainly driven by the acquisition of new clients (€190 million in July, €1.3 billion YTD).
Assets under Advisory totalled €6.9 billion (+30% YoY).
Chief Executive Officer and General Manager Gian Maria Mossa stated: "We are highly satisfied with our July results, which confirm the quality of our managed solutions and our Financial Advisors' commitment to assisting households in their wealth diversification and protection choices. The expansion of the Lux IM Sicav range at the end of July is yet another important step towards a further strengthening of our thematic and ESG strategies, which are an increasingly distinctive factor appreciated by our clients. Our net inflows are a tangible proof of the quality of our Financial Advisors and of the high profiles of our new recruits, both outstanding at the Bank as well as at sector level. The ongoing interest that so many new clients and Financial Advisors show towards our Bank lead us to confirm our positive prospects for the coming months."
1 AuA: Assets under Advanced Advisory.
NET INFLOWS AND LIFE NEW BUSINESS - JULY 2021
PRESS | ||||
RELEASE | ||||
Million of Euros | Jul | Jul | Jan-Jul | Jan-Jul |
2021 | 2020 | 2021 | 2020 | |
Mutual Funds and SICAVs | 271 | 128 | 1,697 | 1,052 |
of which LUX IM | 143 | 110 | 850 | 1,177 |
Financial Wrappers | 57 | 57 | 417 | -10 |
Insurance Wrappers | 129 | 118 | 836 | 475 |
Managed Solutions | 457 | 303 | 2,950 | 1,517 |
Traditional life Insurance policies | -71 | 141 | -544 | 294 |
Managed solutions and life insurance | 386 | 444 | 2,406 | 1,811 |
Assets Under Custody | 119 | 42 | 772 | 1,232 |
of which: Structured products, Securitisations | 139 | 50 | 638 | 607 |
Deposits | 190 | 42 | 1312 | 301 |
AuC products and current accounts | 309 | 84 | 2,084 | 1,533 |
Total Net Inflows | 695 | 528 | 4,490 | 3,344 |
Jul | Jul | S.I. to | S.I. to | |
2021 | 2020 | Jul 2021 | Jul 2020 | |
Assets Under Advanced Advisory | 34 | 151 | 6,865 | 5,271 |
Jul | Jul | Jan-Jul | Jan-Jul | |
2021 | 2020 | 2021 | 2020 | |
Life New Business | 350 | 375 | 2,515 | 1,576 |
CONTACTS:
www.bancagenerali.com
Media Relations
Michele Seghizzi
Tel. +39 02 40826683
michele.seghizzi@bancagenerali.it
Investor Relations
Giuliana Pagliari
Tel.: +39 02 40826548
giuliana.pagliari@bancagenerali.it
The Manager responsible for preparing the company's financial reports (Tommaso di Russo) 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.
Tommaso di Russo (CFO of Banca Generali)
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Banca Generali S.p.A. published this content on 05 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2021 09:05:06 UTC.