Banca Generali closed 2016 with a real record. Net inflows grew by 22% to 5,68 billion euros, a level never reached in the bank's history. The month of December was also a record, with 770 million new flows. Assets under management are booming which, with 545 million last month, approached 4 billion in the 12 months.
Looking at the annual flow balance, mutual funds totaled net inflows of 198 million, a sharp drop from 869 million in 2015. Portfolio management, on the other hand, leapt to 1.020 million from -168 million the previous year. Insurance policies over the 12 months achieved premium income of 2.749 million, down from 3.394 million. Overall, assets under management totaled net inflows of 3.967 million, down by 128 million compared to 2015.
In December, new insurance business amounted to 325 million, up from 256 million in November and for the year the total amounted to 3.788 million, down from 4.547 million in 2015.
“We ended an extraordinary year growing both in terms of quantity and quality of the harvest mix. The peak in December confirms the favorable moment for financial planning and for the best-organized realities in asset protection”, comments the general manager of Banca Generali, Gian Maria Mossa. “The search for safe havens by savers, who have returned to worrying about some peculiar contingencies in the banking system, are discounting – adds the general manager – an excess of pessimism on overall fundamentals. We believe that in the next few months the situation will gradually stabilize to the advantage of a return of confidence which will guarantee new opportunities for managed savings and for those who, like us, operate in the private banking sector for families. We look to the challenges of the new year with determination and optimism”.