Kairos, the Italian asset and wealth manager of Julius Baer, has launched a pair of thematic funds and also made a strategic appointment to accelerate the firm's growth in Italy.
Julius Baer's Italian subsidiary has appointed Loris Vallone as its new chief operating officer (COO).The addition of Vallone is a sign of the company's renewed partnership with its shareholder Julius Baer, Kairos said in a note. In fact, Vallone joins from the Swiss bank, where he started working in 2011, holding since then a wide range of positions including head of portfolio management international in the investment management unit, or head of product and services for the Swiss group in London.
Vallone, who had also worked at Credit Suisse, will report in his new role as COO to Fabrizio Rindi, who was appointed CEO in September.
As per the new funds, Kairos has launched a thematic fund targeting millennials and an ESG strategy. The company has also unveiled its plans to launch an European Long Term Investment fund (ELTIF) dedicated to finance SMEs in January 2020.
KIS Millennials (Kairos International Sicav Millennials) is a thematic equity strategy based on the generation born between 1980 and 2000. This generation's behaviour is different to all preceding ones, as it has revolutionary consumption patterns due to instant information.
Co-managed by Pio Benetti and Riccardo Baldissera, KIS Millennials is an equity compartment of Kairos International Sicav in dollar denominated. It will invest up to 70% of its portfolio in listed companies from the US.
Kairos' ESG new fund, KIS ActivESG, is a long-short strategy based on environmental, social and governance principles (ESG). It will invest in European mid and large caps operating according to those principles of sustainability and social responsibility.
This strategy is managed by Riccardo Valeri, portfolio manager specialised in the European equity market; Massimiliano Comità, portfolio manager; and Sabino Delfino, co-portfolio manager. It follows the STOXX EUROPE 600 ESG-X index, being Kairos the first asset manager taking this benchmark in Italy.
KAIS Renaissance ELTIF, the European Long Term Investment fund that will be available from January 2020, aims at supporting the real economy by investing in European SMEs.
Kairos' investment team was also expanded recently with the appointment of Riccardo Quagliotti as a senior equity analyst, to be focusing on the newest market trends related to technology, media, and internet.