Total net inflows for Banca Generali in February were €160m, of which €118 was raised by the Banca Generali network and €42m by Banca Generali Private Banking.
Year to date, the Banca Generali network saw inflows of €266m, while Banca Generali Private Banking has raised €139m.
"The February inflows once again marked a success for Banca Generali's financial advisor network and show the bank's ability to launch new investment solutions, which are welcomed by its clients," said Banca Generali's chief, Giorgio Girelli (pictured).
Banca Generali said the level of net inflows for February confirms the sustained growth trend shown by the group over the past few months. Since the beginning of the year, the inflow mix has been gradually shifting towards the managed assets component with a shift towards "defensive products, which are characterised by capital protected or capital guarantee solutions."
According to the bank, in the two months since its launch in January this year, BG Più Italia, a guaranteed capital investment linked mostly to government bonds, saw inflows of €302m, while BG Target, a fund providing exposure to emerging markets, saw inflows of €16m in February (€27m year-to-date).
Year-to-date, overall new business in life insurance products raised €426m. But mutual funds saw net outflows of -€12m, down from the -€24m of January. Year-to-date, total net outflows amount to €160m.
According to Assogestioni, the Italian asset management association, Banca Generali had assets under management of €135.6bn, after outflows in February of €1.375bn. This makes Banca Generali the second biggest asset manager in Italy by assets, with a market share of 15%, after Gruppo Intesa Sanpaolo (23.7%), the parent company of asset managers Eurizon Capital and Fideuram.