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Banca Generali Earnings Release 2021
4184_rns_2021-04-09_bf8ae1db-aff5-464d-bb92-c5e440a91055.pdf
Earnings Release
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| Informazione Regolamentata n. 0856-21-2021 |
Data/Ora Ricezione 09 Aprile 2021 09:24:58 |
MTA | |
|---|---|---|---|
| Societa' | : | BANCA GENERALI | |
| Identificativo Informazione Regolamentata |
: | 145053 | |
| Nome utilizzatore | : | BCAGENERALIN03 - Pastore | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 09 Aprile 2021 09:24:58 | |
| Data/Ora Inizio Diffusione presunta |
: | 09 Aprile 2021 09:24:59 | |
| Oggetto | : | PR: Net inflows Banca Generali march 2021 |
|
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
Total net inflows at €646 million in March (€1,661 million YTD)
Net inflows of managed solutions at €648 million (€1,282 million YTD)
New Assets under Advisory at €128 million (Total AuA1 at €6,461 million YTD)
Milan, 9 April 2021 - Banca Generali's total net inflows significantly increased in March, both in terms of volumes (€646 million; +25% YoY) and product mix (100% in high value-added managed solutions).
Overall, net inflows for the quarter neared €1.7 billion (+11% YoY), with a marked increase in managed solutions (funds, financial and insurance wrappers), which reached €1.3 billion (five times higher compared to €253 million for the previous quarter), accounting for 77% of net inflows for the quarter (17% in the previous year).
Net inflows were well diversified among the different managed solutions, thus confirming the attention towards bespoke investment planning. The Luxembourg-based Sicav Lux IM confirmed its structural uptrend (€154 million in March; €386 million for the quarter) and financial wrappers recovered (€127 million in March; €180 million for the quarter).
Insurance wrappers continued to grow (€146 million in March; €380 million for the quarter), as in the current market context they are preferred over traditional life policies (-€103 million in March; -€226 million for the quarter) thanks to the greater flexibility of their underlying investments and distinctive insurance coverage.
AUC products and current accounts showed a positive result in the quarter (€101 million in March; €605 million for the quarter), albeit far below the highs of the previous year.
New Assets under Advisory amounted to €128 million in March (€445 million YTD), bringing the total amount to €6.5 billion.
CONTACTS:
www.bancagenerali.com
Media Relations Michele Seghizzi Tel. +39 02 40826683
Investor Relations Giuliana Pagliari Tel.: +39 02 40826548
Chief Executive Officer and General Manager Gian Maria Mossa stated: "This was a very strong first quarter with a constantly accelerating uptrend in net inflows compared to recent years, not only in AUC solutions, which offer prudent investments and protection, but also increasingly in managed solutions. The March figures show the clear interest for our thematic solutions, particularly sustainability-related ones, without neglecting the need for diversification and protection offered by insurance instruments. The commitment to digital and the offering of a broad platform of high-quality services in both investments and wealth management complement the professionalism of our bankers, who find in our Company the ideal partner for meeting not only the needs of private clients and entrepreneurs, but also the planning needs of households. Albeit with the due caution
1 AuA: Assets under Advanced Advisory.
PRESS RELEASE
necessitated by market dynamics and by the outcomes of the vaccination campaigns, the solidity of demand leads us to look with confidence towards the development opportunities of the coming months."
NET INFLOWS AND LIFE NEW BUSINESS IN MARCH 2021
| Million of Euros | Mar. 2021 |
Mar. 2020 |
Jan-Mar 2021 |
Jan-Mar 2020 |
|---|---|---|---|---|
| Mutual Funds and SICAVs | 375 | -159 | 722 | 159 |
| of which LUX IM | 154 | 92 | 386 | 540 |
| Financial Wrappers | 127 | -64 | 180 | -118 |
| Insurance Wrappers | 146 | -5 | 380 | 212 |
| Managed Solutions | 648 | -228 | 1,282 | 253 |
| Traditional life Insurance policies | -103 | -1 | -226 | -113 |
| Managed solutions and life insurance | 545 | -229 | 1,056 | 140 |
| Assets Under Custody | -16 | 264 | 279 | 509 |
| of which: Structured products, Securitisations | 84 | 74 | 203 | 315 |
| Deposits | 117 | 482 | 326 | 845 |
| AuC products and current accounts | 101 | 746 | 605 | 1,354 |
| Total Net Inflows | 646 | 517 | 1,661 | 1,494 |
| Mar. | Mar. | S.I. to | S.I. to | |
| 2021 | 2020 | Mar. 2021 | Mar. 2020 |
| Assets Under Advanced Advisory | 128 | -288 | 6,461 | 4,615 |
|---|---|---|---|---|
| Mar. | Mar. | Jan-Mar | Jan-Mar | |
|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |
| Life New Business | 439 | 158 | 1,112 | 544 |
CONTACTS:
www.bancagenerali.com
Media Relations Michele Seghizzi Tel. +39 02 40826683
Investor Relations Giuliana Pagliari Tel.: +39 02 40826548
The 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)