Geneva-based boutique Decalia Asset Management has entered the Italian market by acquiring Milan-headquartered company Astor Investment Advisors SIM, focused on institutional management.
Also Decalia has registered its Luxembourg fund range – Decalia Funds – in Italy and appointed Jürgen Mahler as head of Business Development for the Decalia Funds in Italy.
The acquisition of Astor Investment Advisors will enable Decalia to passport its funds in other European markets. Financial details of the transaction have not been disclosed.
Established in 2008 by Francesco Marini Clarelli and Jody Vender, Astor Investment Advisors runs a thematic hedge fund as well as an Italy-domiciled Ucits strategy.
Following the deal, Astor will extend its activities to private wealth management and the distribution of Decalia funds.
It is understood the company, which will be rebranded as Decalia Asset Management SIM, will see new hires over the coming months.
The six Ucits strategies registered in Italy include : Decalia Millenials (equity fund focused on millenials), Decalia Silver Generation (ageing equity fund), Decalia European Conviction (equity fund focused on market inefficiency), Decalia Conservative (multi asset strategy focused on the quest for yield), Decalia Active Allocation (multi asset strategy focused on the quest for yield) and Decalia Muse (long/short equity fund focused on market inefficiency).
“The investment funds industry is flooded with look-alike products, which provide us – as a new player – with some interesting opportunities. In this sector as in others, innovation is the key to success and we are therefore going to focus on original, results-oriented investment solutions, as is the case with Decalia Millenials and Decalia Silver Generation, which are pioneering products,” said Rodolfo De Benedetti, partner and head of Strategy Development.
Mahler joined Decalia from Oddo Meriten AM in Italy where he spent six years developing the business in the country.
“Jürgen Mahler has more than 25 years’ experience of the Italian market and has obtained some excellent results there. His reputation and the quality of its contacts network will be important assets for the development of our investment funds in Italy,” said Xavier Guillon, partner and head of Decalia Funds.
Decalia, which has €1.8bn in assets under management, is looking at an acquisition in the United Kingdom but the operation remains currently in stand-by.