• Total net inflows at €378 million in August (€4.4 billion YTD)
• Net inflows of Assets under Investment at €136 million (€1.8 billion YTD)

Milan, 9 September 2024 – Banca Generali’s net inflows amounted to €378 million in August, up +53% compared to the same month of the previous year. YTD net inflows reached €4.4 billion, up +11% compared to the same period of 2023.

These results confirm the good quality of net inflows from managed solutions – particularly in-house solutions – the stabilisation of net inflows from insurance products and the high liquidity available. Among managed solutions, wrappers continued to be the most in demand, with a recovery of both insurance wrappers (€50 million in August; €129 million YTD; +130% YoY) and financial wrappers (€31 million in August; €945 million YTD; +104% YoY). Net inflows from in-house funds were also robust (€49 million in August; €548 million YTD; +27% YoY). In detail, in-house products totalled €1.5 billion YTD overall (+66% YoY).

Net inflows from insurance products amounted to €46 million in August (€127 million YTD), confirming the segment’s trend reversal compared to €1.1 billion outflows for the same period of the previous year.

Demand for AUC & Banking under Advisory changed slightly (€13 million in August; €548 million YTD), mainly due to the slowdown in demand for assets under custody following the peaks of the previous year.

Other Assets (€242 million in August) grew sharply, chiefly thanks to liquidity (€183 million in August; €400 million YTD), reflecting a higher volume of securities reaching maturity and the increased acquisition of new customers.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “Despite the seasonality of the summer months, overall volumes continued to grow double digit and the net inflows mix further normalised. Financial and insurance wrappers and in-house Sicavs confirmed the positive signs shown in the previous months, whereas liquidity and traditional policies stabilised. Recruiting continued to resume, with highly experienced profiles and young talents increasingly interested in our Bank. Our annual convention will be held in September: it will be a key opportunity to share strategies with our bankers and to release the products and services we expect will further boost our growth. We therefore look towards the prospects for the last months of the year with optimism.”