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Azimut Holding, one of the largest asset management companies in Europe, has signed a letter of intent with UniCredit, Italy’s second largest bank, defining the basic elements for the distribution of asset management products in Italy.
This unique partnership, believed to be the first of its kind in Europe, accelerates and supports UniCredit’s strategy to strengthen and develop its asset management capabilities and is immediately implemented with the contribution of Azimut, the only Italian asset manager with a global presence strategy. Emerging and frontier markets are also included.
Azimut will establish and independently manage a new management company in Ireland, which will develop investment products, in particular mutual funds, for non-exclusive distribution through UniCredit’s network, which currently has 7 million clients in Italy. Specifically, Azimut plans to launch the first dedicated funds in Italy in the second half of 2023, after obtaining the necessary regulatory approvals.
Investment Strategy
For over 10 years Azimut has relied on its global asset management team comprising more than 170 professionals in the 18 countries around the world where the group operates. The team manages around 250 investment strategies in the public markets and will support the development in partnership with UniCredit in the first phase.
The asset manager also expressed confidence that such partnership opportunities could attract attention outside of Europe, particularly in regions where Azimut has a strong asset management presence, such as the Middle East.
The firm believes that new business models are emerging that require exploring deeper interactions between banks and asset managers, aiming to provide a better experience for customers. The changing regulatory environment and digitization are driving greater collaboration among financial firms and reshaping the financial ecosystem.
long term partnership
“This breakthrough partnership with UniCredit reaffirms our capabilities and our willingness to enter into long-term partnerships with large key players,” said Giorgio Medda, CEO and Global Head of Asset Management, Azimut Group.
“It also demonstrates how our asset management capabilities with a track record of over 30 years have proven their strong value in the Italian and European investment management space. Our main objective is to bring the same to the benefit of our clients by extending our knowledge and expertise success. We will continue to expand our client base and seek partnerships with local banks where we can help them strengthen their product portfolios. We have developed a strategic roadmap to help us build on our strong Looking forward to realizing the full scope of our strategy,” he added.
“We see the Azimut/Unicredit agreement as a demonstration of our ability to bring added value to the industry and our unique model. The investment management industry in the Middle East will face significant challenges and growth, in line with the regional governments’ efforts to diversify their economies and strengthen financial markets. Long-term strategic alignment. As an international company with multiple investment centers in the Middle East, we are well positioned to provide solutions to local banks in our region,” said Maroun Jalkh, Chief Executive Officer, Azimut (ME) Limited, UAE. — trade arab news agency
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