The Generali Group will launch its first Italian asset management boutique, called ThreeSixty Investments, in partnership with various investment professionals, with an initial investment of €1bn.
Image: Head office of Generali in Italy. Photo: courtesy of Assicurazioni Generali S.p.A.
ThreeSixty Investments will strive to provide highly diversified multi-asset investments and solutions to various clients, said Generali. The Italian insurance giant said that the new asset management company will have an innovative integrated investment approach across asset classes.
The investment professionals’ team is led by former CEO of Pioneer Investments Giordano Lombardo. It also includes Mauro Ratto, an experienced executive in fixed income and emerging markets strategies; Diego Franzin, an expert in equity strategies; and Robert Richardson, who has experience in the asset management industry.
The insurance major said that ThreeSixty Investments will represent another major milestone in the execution of its asset management strategy, which is aimed at building a top five multi-boutique in the world in terms of revenue.
Generali Investments Partners head Carlo Trabattoni said: “The main objective of the partnership is to build high quality products for clients – whether institutional or private – with a very clear positioning on the market.
“We believe that the distinctive multi-asset strategy that is being developed by the new asset management company is fully responding to this ambition.”
The new asset management firm will independently execute its strategy and operations. It is expected to fully leverage on the partners’ expertise and entrepreneurial mindset, and also on the insurer’s scale and global presence.
ThreeSixty Investments will be based in Milan and operate as an asset management company under Italian law after obtaining the due licenses.
ThreeSixty Investments CEO Giordano Lombardo said: “We believe that the future of active asset management lies in a new, integrated approach, beyond the distinction between traditional and alternative assets.
“Our aim is to align completely to the goals of investors, integrating all sources of return in a common total return framework. The partnership with Generali, with its long-term commitment, is ideal to build a new approach to multi-asset investing.”
Generali had started implementing its asset management strategy since May 2017, first for Europe and then in November 2018, extending it to rest of the world. The insurance giant said that it has so far created or partnered with eight boutiques and transformed its existing asset managers into four distinctive platforms.
In December 2018, as part of its asset management strategy, the Italian firm acquired CM Investment Solutions (CMISL), a UK-based asset management firm, from Bank of America Merrill Lynch. As of 30 September 2018, CMISL had more than $11bn in assets under management.