• Total net inflows at €648 million in May (€2,941 million YTD)
• Net inflows of Assets under Investment at €278 million (€1,183 million YTD)

Milan, 5 June 2024 – Banca Generali's net inflows amounted to €648 million in May, bringing the YTD total to over €2.9 billion, up 7% compared to the same period of the previous year.

The net inflows mix confirmed the robust recovery in demand for investment products and services (Assets under Investment), with net inflows more than doubled compared to the previous year, both in May (€278 million; +100% YoY) and YTD (€1,183 million; +175% YoY).

The product mix showed a shift from AUC & Banking under Advisory to managed solutions (€267 million in May; €706 million YTD). In detail, in-house products (financial wrappers and funds/Sicavs) were high in demand, with €307 million overall in May (€962 million YTD; +109% YoY). Net inflows from financial wrappers more than tripled to €194 million (€615 million YTD). In-house funds also performed well, with €113 million net inflows in May (€347 million YTD), offsetting the outflows from third-party funds.

With regard to Other Assets, the normalisation trend of net inflows from Assets under Custody and Liquidity continued. Total net inflows from Other Assets totalled €1.8 billion YTD, showing lower net inflows from Assets under Custody (€1.5 billion YTD compared to €3.1 billion for the previous year) and an increase in Liquidity, with €235 million YTD (compared to €0.8 billion net outflows for the previous year).

Chief Executive Officer and General Manager Gian Maria Mossa stated: “Our growth by both volume and quality is accelerating, with renewed, gradually increasing attention to managed solutions. Expectations for declining inflation and for looser monetary policies, combined with strong equity markets, are driving advisory demand towards better diversified instruments that are able to capture current trends. In the first five months of the year, net inflows from assets under investments nearly tripled and the rebalancing of third-party and in-house solutions continued. Another positive note is the recruitment of senior professionals, who are increasingly searching for open platforms able to meet the complex needs of private clients. In this context, we look towards the prospects for the coming months with confidence and optimism."