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Michele Seghizzi
Tel. +39 02 6076 5683
Michele.seghizzi@bancagenerali.it
Investor Relations
Giuliana Pagliari
Tel: +39 02 6076 5548 giuliana.pagliari@bancagenerali.it
2012 net inflows amounted to €1.6 billion, entirely generated by managed products
December total net inflows at €88 million, with net inflows of managed products at
€219 million
Milan, 9 January 2013 - Banca Generali's total net inflows in December amounted to €88 million. Total net inflows for 2012 were €1,602 million, of which €1,131 million gathered by the Banca Generali network and €471 million by Banca Generali Private Banking.
December witnessed a further considerable pick-up of inflows of asset management products compared to the previous months. In further detail, maturing securities and other administered products continued to be transformed into asset management solutions with the aim of diversifying portfolios and maximising return on investment.
Overall, net inflows of managed products amounted to €219 million for the month, compared to outflows of €131 million from administered products.
In all of 2012, total net inflows reached €1,602 million (+27%) and were composed solely of asset management products (€1,627 million or +210%).
Within the asset management category, inflows of funds and portfolio management showed significant growth (€98 million in December and €512 million YTD). Insurance products also continued to register a good performance: life new business amounted to €123 million for the month, bringing the balance since the beginning of the year to €1,430 million.
The CEO of Banca Generali, Piermario Motta, commented: "The net inflows figure achieved in
2012 is one of the best results of all time in terms of both volumes and product mix. We are very proud of this result, which reflects the Bank's strengths: the quality of our financial advisory service, the recognised professionalism of our network, our constant innovation in product offerings, significant investments in technological infrastructure and, last but certainly not least, the strong performances generated for our clients despite the defensive investment approach. We believe that these distinctive factors will allow us to continue to grow in the coming months by successfully meeting the strong demand for financial advice from Italian households."
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The Manager responsible for preparing the Banca Generali's financial reports (Giancarlo Fancel) 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.
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A) NET INFLOWS AND LIFE NEW BUSINESS IN DECEMBER 2012Million of Euros Dec 2012 Nov 2012 Abs. Chg
Mutual Funds 92 85 7
Asset Management 6 3 3
Mutual Funds and Managed Portfolio 98 88 10
Life Insurance 121 80 41
Managed Assets 219 168 51
Non Managed Assets -131 -117 -14
of which: Securities -255 -37 -218
Total 88 51 37
Jan-Dec 2012 Jan-Dec 2011 Abs. Chg
Mutual Funds 444 -11 455
Asset Management 68 -177 245
Mutual Funds and Managed Portfolio 512 -188 700
Life Insurance 1,115 713 402
Managed Assets 1,627 525 1,102
Non Managed Assets -25 735 -760
of which: Securities -310 626 -936
Total 1,602 1,260 342
Life New Business
Dec 2012 Nov 2012 Abs. Chg
Life New Business 123 90 33
Jan-Dec 2012 Jan-Dec 2011 Abs. Chg
Life New Business 1,430 969 461
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