Italy's Banca Generali net profit up 10 pct in Q1

MILAN Thu May 8, 2014 7:29am EDT

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MILAN May 8 (Reuters) - Italian asset manager Banca Generali on Thursday reported a 10 percent rise in first quarter net profit to 38.9 million euros ($54.16 million) thanks to a 20 percent growth in management fees.

In a statement, the unit of Assicurazioni Generali , said total assets under management rose 12 percent to 30.3 billion euros.

Net interest income was 106.8 million euros in the period, up 9.7 percent on the year, thanks to a positive performance of trading activities. ($1 = 0.7183 Euros) (Reporting by Maria Pia Quaglia and Francesca Landini; Editing by Lisa Jucca)