(Alliance News) - Banca Generali Spa reported Wednesday that it recorded net inflows of EUR648 million in May, bringing the titotal since the beginning of the year to EUR2.9 billion, up 7 percent from the same period last year.

In contrast, inflows of assets under investment were EUR278 million, doubling year-on-year, with the cumulative amounting to EUR1.18 billion, up 175 percent year-on-year.

Banca Generali CEO and managing director Gian Maria Mossa said, "We are accelerating growth in both volume and quality with a progressive return of focus on managed solutions. The prospects of easing inflation and monetary policies, combined with the strength of the equity markets, are driving the demand for advice toward instruments that are better diversified and able to capture the trends of the moment."

"In the first five months of the year, flows in assets under investments nearly tripled, and the rebalancing between third-party and in-house solutions continues. Positive notes also on the front of the placement of senior professionals who are increasingly looking for open platforms that can dialogue with the complex needs of private clients. In this context, we look with confidence and optimism at the prospects for the coming months."

Banca Generali's stock is up 0.5 percent at EUR38.54 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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