July 31, 2019 / 3:12 PM / 2 months ago

Banca Mediolanum sees 2019 total net inflows likely in line with 2018 - CEO

MILAN, July 31 (Reuters) - Total net inflows at Italian asset manager Banca Mediolanum in 2019 could match last year’s levels, Chief Executive Massimo Doris said on Wednesday.

Back in February Doris had said he expected net inflows in 2019 to exceed last year’s.

“We had a rather difficult first quarter, then we saw a recovery. Our total net inflows are now just a touch below last year’s levels, so there is definitely the possibility that at the end of the year we will have done what we did in 2018,” Doris told Reuters in a telephone interview.

Mediolanum had earlier reported total net inflows of 2.035 billion euros for the six months to June, compared with 2.1 billion euros in the same period last year. Full-year inflows stood at 4.1 billion euros at the end of 2018. (Reporting by Sabina Suzzi, editing by Silvia Aloisi)

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