Paris-based emerging markets investment boutique Gemway Assets has entered Italy via the registration of its entire range of funds in the country.
The firm's fund suite comprises three strategies. GemEquity fund, a global emerging markets equity strategy, that has 7 years' track record and €700m of assets under management.
A second investment vehicle available now for Italian investors is GemAsia, an equity strategy investing across Asia (excluding Japan), with assets under management amounting to €51m since inception in December 2017.
The third vehicle, GemChina, has been also registered for sale in the country. It is an equity fund based on China, whose assets under management have achieved €27m and was set up in October 2019.
Stefano Franchi, Gemway Assets head of business development Italy, told this publication: "For the time being, only the institutional shareclasses will be available for subscriptions in Italy. But the retail shareclasses will be open very soon too."
Franchi also revealed that for the time being, the company was not planing to open any office in Italy since its primary focus was to gain assets in the country as well as sign retail agreements.
He added: "We prefer focusing on gaining clients' loyalty by presenting them our investment philosophy, consisting on the development and rising purchasing power of the middle class in emerging countries, and on entering into partnership agreements that will last on the long term.
"Concerning whether or not there are plans to expand our teams, the answer is yes but for now, we are mostly expanding support function teams. For example, we are recruiting another person in the middle office to help on DDQs, on tenders, etc.
"We will also surely recruit in the management team for placing orders among other tasks. Indeed there is an increasing appetite for our funds in Europe."
With regards to the manager's approach towards ESG, the company became a signatory of the UN PRI in 2015. According to Franchi, the firm is about to become the first asset management firm in the world to have 100% emerging funds base with the French SRI label.
Gemway Assets, established by Bruno Vanier and Michel Audeban in 2012, manages currently some €770m. The firm has a strong international presence with more than half (52%) of its assets held by foreign clients.