• Total net inflows at €510 million in November (€5.7 billion YTD)
• Net inflows of Assets under Investment at €385 million (€2.8 billion YTD)

Milan, 5 December 2024 – Banca Generali's net inflows amounted to €510 million in November (+39% YoY), bringing the 2024 YTD total to nearly €5.7 billion, up +13% compared to the same period of the previous year.

The excellent quality mix achieved in November bore the fruits of the growing interest towards managed and insurance solutions, following the review of the product offer in a context of gradually decreasing interest rates. Net inflows from Assets under Investment totalled €385 million in

November (€2.8 billion YTD; +218% YoY), driven by a strong demand for managed solutions (€323 million in November; €2.1 billion YTD; +227% YoY) and the renewed demand for traditional life insurance policies (€53 million in November; €140 million YTD).

Among managed solutions, significant net inflows were catalysed by both insurance wrappers (€185 million in November; €627 million YTD) and financial wrappers (€119 million in November; €1.3 billion YTD). In-house funds also continued to see solid demand (€77 million in November; €795 million YTD).

Overall, thanks to the quality and uniqueness of the managed solutions offered, in-house products (funds and financial wrappers) recorded €2.1 billion net inflows in the period (+122% YoY), accounting for 73% of total Assets under Investments at the end of November.

Other Assets amounted to €125 million in November (€2.8 billion YTD), supported by €305 million liquidity inflows, net of €168 million outflows for clients’ tax deadlines in the month (€1.0 billion YTD). As in the previous months, Assets under Custody declined as a result of bonds reaching maturity.

Chief Executive Officer and General Manager Gian Maria Mossa stated: “We are approaching the end of a year of sharp growth, marked by a double-digit increase in net inflows, with clients strongly appreciating our quality product range. November saw not only a stronger volume trend, but especially an uptrend of our financial and insurance wrappers, which are increasingly recognised as a distinctive feature of our brand, as confirmed by the Assets under Investment figure, which more than trebled this year. The announcement of the voluntary tender offer on Intermonte met with great success, generating growing attention from our industry’s experienced professionals and from entrepreneurs. We are confident we will receive the competent Authorities’ authorisations in the coming weeks, enabling us to start working together as soon as in the first months of next year. Despite the tax-related outflows, our most recent commercial dynamics make us look with optimism towards further year-end acceleration.”