Banca Generali — Earnings Release 2018

Jul 10, 2018

Informazione Regolamentata n. 0856-38-2018		Data/Ora Ricezione 10 Luglio 2018 13:08:19	MTA
Societa'	:	BANCA GENERALI
Identificativo Informazione Regolamentata	:	106144
Nome utilizzatore	:	BCAGENERALIN02 - Seghizzi
Tipologia	:	2.2
Data/Ora Ricezione	:	10 Luglio 2018 13:08:19
Data/Ora Inizio Diffusione presunta	:	10 Luglio 2018 13:08:20
Oggetto	:	PR: June Net Inflows
Testo del comunicato

Vedi allegato.

PRESS RELEASE

June net inflows: €502 million (€3.15 billion YTD)

Net inflows of managed products: €212 million (€1.6 billion YTD)

Milan, 10 July 2018 – Banca Generali's net inflows amounted to €502 million in June, bringing the YTD total to €3.15 billion. This figure reflects the seasonal nature of June, during which our clients paid taxes for a total of €125 million. They also paid further €61 million for taxes on 2 July bringing the overall amount to €186 million.

The trend of acquisition of new private clients, who are favouring a capital preservation approach in this phase, continued in June. In the month, the current account deposits recorded in the previous weeks decreased to the benefit of both managed solutions and specific AUC alternative solutions providing higher portfolio diversification. Amongst the latter, it is worth mentioning the healthcare receivable securitisation vehicle (already closed to €300m of net inflows) and the private certificates (over €100 million since their launch in 2018), which take advantage of the growing volatility to provide further portfolio protection.

With reference to managed products, financial and insurance wrapper solutions were again in high demand in June (over €850 million in 2018), and the innovative Luxembourg-based Sicav LUX IM continued to improve its performance recording almost €200 million in just two months from inception.

With regard to net inflows for the first half of the year, managed and insurance solutions stood out thanks to their capital protection features, with an overall balance of €1.6 billion, thus exceeding total net inflows from AUC.

CONTACTS:

www.bancagenerali.com

Media Relations Michele Seghizzi Tel. +39 02 6076 5683

Michele.seghizzi@bancagenerali.it

Investor Relations Giuliana Pagliari Tel: +39 02 6076 5548

giuliana.pagliari@bancagenerali.it

Lastly, Assets under Advisory grew significantly reaching an overall total of over €2.2 billion, of which €900 million YTD.

Chief Executive Officer Gian Maria Mossa stated: "The first half of the year proved very satisfactory, thrusting us towards our yearly objectives. Despite the different market conditions and the renewed volatility peaks, like those recorded in February and May, we continued to grow, further improving the growth rate of net inflows compared to the average rate of the past three-year period (+4.3%). The Bank also continued to acquire new private clients, who now account for about 65% of total assets, confirming the excellent skills of our financial advisors and the quality of our unique protection-oriented solutions. These distinctive features are being increasingly perceived and appreciated by households, which makes us confident about the coming months."

NET INFLOWS AND LIFE NEW BUSINESS IN JUNE 2018

Million of Euros	Jun 2018	May 2018	Abs. Chg
Mutual Funds	141	13	128
Managed Portfolio	-19	-5	-14
Mutual Funds and Managed Portfolio	122	8	114
Life Insurance	90	140	-50
of which BG STILE LIBERO	128	113	1 5
Managed Assets	212	148	64
Non Managed Assets of which: Securities	290 313	455 225	-166 88
Total	502	603	-102
	Jan-Jun 2018	Jan-Jun 2017	Abs. Chg
Mutual Funds	558	979	-421
Managed Portfolio	251	1,472	-1,221
Mutual Funds and Managed Portfolio	809	2,451	-1,642
Life Insurance	833	986	-153
of which BG STILE LIBERO	606	937	-331
Managed Assets	1,642	3,437	-1,795
Non Managed Assets	1,511	383	1,128
of which: Securities	741	98	643
Total	3,153	3,820	-667
Life New Business
The	Jun 2018	May 2018	Abs. Chg
Life New Business	245	224	21
	Jan-Jun 2018	Jan-Jun 2017	Abs. Chg
Life New Business	1,486	1,726	-240

Manager responsible for preparing the company's financial reports (Tommaso di Russo) declares, pursuant to Paragraph 2 of Art. 154-bis of the Italian Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documentary results, books and accounting records. Tommaso di Russo (CFO of Banca Generali)