Managed asset rose sharply to €2,768 (+70%), according to Italy's Banca Generali's latest report.
Managed asset rose sharply to €2,768 (+70%), according to Italy’s Banca Generali’s latest report.
Banca Generali’s total net inflows in December amounted to €131m, bringing the total for FY 2013 to €2,260m, the bank’s report said.
Of the total amount, €1,475m were put together by the Banca Generali network, while €785m came from Banca Generali Private Banking.
The performance was the bank’s best result ever in terms of net inflows, with a 40% increase compared to the previous year and a 64% rise compared to the average for the past three years, Banca Generali highlighted.
Inflows concentrated in asset management and insurance products, which reached total inflows of €2,768m (+70% compared to the previous year, +103% compared to the average for the past three years).
Throughout 2013, customers were especially interested in investing liquidity and optimising their portfolio positions, focusing on the asset management solutions, Banca Generali also said.
With reference to asset management products, demand was mainly focused on funds and Sicavs, which recorded net inflows of €1,489m (+235% compared to 2012).
Banca Generali’s CEO, Piermario Motta (pictured), commented: “We are highly satisfied with our achievements in 2013, and specifically with our net inflows, which were not only the best in the bank’s history, but also confirmed our position at the head of the financial advisory industry.
“Despite the scenario of persistent market complexity, the signs of a recovery on the horizon represent the best possible start to the new year, to which we look with great optimism.”