Capital Group extends reach into Italy through Südtirol Bank deal

Il Duomo MilanItalian investors will have more options to access investment management company Capital Group's funds due to a new distribution agreement with Südtirol Bank. The distribution agreement is Capital Group's third in Italy after similar deals with FinecoBank and Online Simn. The latest agreement will allow Capital, one of the world's largest asset managers with $1.4 trillion (€1.2 trillion) in assets under management, to reach private investors in the industrial heartland of northern Italy including Milan, as well as southern cities such as Naples and Rome. Südtirol Bank is an independent bank in Italy with a network of 160 financial advisers. It serves both retail and corporate clients. Since opening its first office in Milan in 2013, Capital has increased its workforce to four. Grant Leon, head of sales for Capital's financial institutions and intermediaries business, says: "Our new relationship with Südtirol Bank complements our existing relationships in Italy and helps us to reach new investors across an expanded geographical area." Italy, the third largest economy in the Eurozone, looks set to emerge from its longest recession on record. The latest available official statistics show industrial production increased 0.3% in November compared to the previous month. Another hopeful sign came on Monday, Fiat Chrysler announced that it is hiring a thousand workers at its Melfi plant in southern Italy. ©2015 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.