Algebris Investments has signed a distribution agreement with Allfunds Bank to sell its Algebris Ucits Funds in Italy.
Allfunds, which will also be in charge of processing the payments, will operate through its Milan-based Italian branch.
The fund platform will made the following Algebris funds available to Italian investors:
- Algebris Financial Credit Fund, which invests globally in subordinates bonds, including hybrids and CoCos, and senior stocks both fixed and floating income. The fund’s aim is to generate a high level of income with modest capital appreciation
- Algebris Financial Income Fund, which invests globally in high dividend equities and in subordinate and senior bonds. The fund’s aim is to maximise income and dividends
The agreement is aimed at small investors, with a minimum investment range between €10,000 and €100,000 and daily liquidity.
Davide Serra (pictured), Algebris CEO, hailed the agreement as a way to expand the asset manager’s client basis in Italy.
“The financial sector continues to offer plenty of investment opportunities and it is among the few sectors positively correlated to a possible interest rate scenario.
“In particular, we believe that there is still room for a reduction of financial hybrid spreads, also in connection with Basil III,” he concluded.