Groupama AM bolsters its Italian arm

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Groupama Asset Management Sgr, the Italian subsidiary of the French manager Groupama Asset Management (Groupama AM) has appointed Saverio Massi Benedetti as portfolio manager of the Supply Chain Fund, a strategy aimed at institutional investors in the Italian market.

Massi Benedetti (pictured) joins Groupama AM from P&G Sgr where he started working in 2007 responsible for the risk management. Prior to that, he worked at MAN Investment based in Zurich.

The Supply Chain Fund, a collaborative financing solution for SMEs in the Italian market, is part of the disintermediation of banking representing the first Fintech solution developed by a savings management company dedicated to finance supply chain finance.

The Fund, which is the first direct lending fund in Italy specialised in the purchase of commercial invoices, has already approved loans to SMEs for €76m since October 2017 constituting a viable alternative for Italian companies.

Groupama Asset Management Sgr has 8.5bn in assets under management.