Banca Generali Q1 net profit falls 9 pct
MILAN May 7 (Reuters) - Italian asset manager Banca Generali said on Tuesday its net profit fell 9 percent to 35.5 million euros ($46 million) in the first quarter of this year as it cashed in less trading and performance fees than in the same period of 2012.
Total assets under management and administered assets at the end of March were 27 billion euros, up 10 percent compared with the first quarter of 2012.
Net inflows for the first four months of this year were 861 million euros, with a growth rate of 26 percent, the best result of the last five years, Banca Generali said. ($1 = 0.7659 euros) (Reporting by Francesca Landini and Maria Pia Quaglia, editing by Antonella Ciancio)
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