In September General Bank recorded net inflows of 309 million euro, which brings the year-to-date total to quota 3,8 billion. The monthly result is essentially stable compared to September 2018 (310 million) and last August (315 million).
Last month's funding was "positive in the light of seasonal factors and the taxes paid by customers during the period and amounted to 109,6 million - reads the press release - The drop in yields during the summer period affected the composition of net funding. In fact, there has been a generalized profit-taking on European government bonds reflected in the dynamics of assets under administration with the outflow from securities deposit accounts”.
In detail, net inflows under management in September amounted to 186 million. Flows towards asset management products strengthened (in particular towards Luxembourg-based SICAV: LUX IM1 reached 92 million euro, for a total of 1,5 billion since the beginning of the year) and towards insurance products (116 million new flows in the month, 1,2 billion since the beginning of the year).
The growth of managed assets continues, reaching i 4,5 billion masses, with a growth of 200 million in the month and 2,2 billion since the beginning of the year.
"Pressure on interest rates and market volatility in the summer weeks are driving the demand for professional advice for the protection of assets - commented the CEO and General Manager of Banca Generali, Gian Maria Mossa – We are registering great attention not only among saver families but also from many entrepreneurs who want to be accompanied in more complex operations; this makes us very confident about growth for the last part of the year”.
