M&G Investments teams up with Banca Generali to distribute its retail range of mutual funds to the customers of the private bank in Italy.
The deal includes the direct distribution of the full range of M&G’s mutual funds and the launch of BG Selection SICAV – M&G Multi Asset Allocation Fund, a bespoke multi-asset fund managed by M&G Investments exclusively for Banca Generali.
A number of M&G’s strategies will be used as well in the solutions BG Solution and BG Stile Libero provided by Banca Generali Group.
The investment strategy is run by fund managers Juan Nevado and Craig Moran and aims to offer annualised returns of between 5% and 10% and a volatility profile of between 5% and 12% per year.
Matteo Astolfi, country head of Italy, M&G Investments, said: “We are delighted to be able to work with a leading bank like Banca Generali in Italy.
“Discretionary portfolio management is increasingly adopted by banks throughout Europe and it is important for us to come up with products tailored to the needs of such banks.
“The agreement with Banca Generali represents another important step towards the strengthening of our presence in Italy.”
Others deals made in Italy by M&G since the start of the year include partnership agreements with Banca Fideuram-Intesa San Paolo Private Banking, Allianz Bank Financial Advisors and Banca Aletti.
Banca Generali tallies 300,000 clients.