The European asset management platform of Mediolanum Banking Group, Mediolanum International Funds Ltd (MIFL) has announced three new equity mandate totalling over €1bn with European investment firms Cadence, Intermede and RWC.
MIFL will provide all three firms access to its distribution platform in Italy, Spain and Germany. The new partnerships should help bolster MIFL's unique multi manager structure, onboarding additional outstanding capabilities which further enhance MIFL's investment solutions.
The agreement with Cadence Investment Partners LLP, the Edinburgh based independent investment boutique funded in 2014, will see MIFL allocating €130m in its flagship Asia strategy. Cadence is a long-term investor focused on intrinsic value investing within high quality businesses, capable of translating the growth of Asia into superior returns.
Our strategy is well positioned to capture the immense opportunity in Asia as the region looks set to become the engine of global growth for decades to come."
Jason McCay, Managing Partner at Cadence Investment Partners commented: "We are delighted to be working with Mediolanum and its clients. The relationship marks an important step in the development of Cadence Investment Partners."
"Having access to Mediolanum's distribution platform through this agreement will enable us to continue to focus on our strength as a business, which is putting portfolio management first. Our strategy is well positioned to capture the immense opportunity in Asia as the region looks set to become the engine of global growth for decades to come."
The development also sees MIFL partnering with Intermede, a London-based independent boutique established in 2014. MIFL will be allocating €700 million in the firm's Global Equity strategy through a sub-advisory mandate. The funds research-intensive, fundamental, bottom-up investment philosophy has led to a high-quality growth focused strategy with a concentrated portfolio (40-50 holdings) and a strong active share.
Barry Dargan, portfolio manager and CEO at Intermede Investment Partners commented: "This sub-advisory agreement opens up new horizons for us and will allow us to offer a range of European retail clients access to a portfolio that identifies the best-in-class companies at a discount, no matter the market condition."
"Our corporate culture is also closely aligned with Mediolanum in that we are optimally configured to minimise external distractions so the investment team can focus on company research, with appropriate team size and portfolio concentration."
MIFL is also allocating approximately €300m into RWC Partners, investing €60 million in their emerging markets strategy and seeding a mandate of €240 million euro in their new Global Equity Income Strategy managed by a team who recently joined RWC.