Crédit Agricole wins Italian institutional brief
ITALY – The Milan based Italian arm of French group, Crédit Agricole Asset Management (CAAM), CAAM Sgr, has won an index-linked structured equity mandate from Parma based insurance group, Po’Vita, The size of the mandate will be between €45m and €65m.
Po’Vita, already has €15m of CAAM’s SICAV CA-Funds in its unit linked multi-manager product and is considering further investments in this area.
In addition, banking group, Caripalma, which owns 50% of Po’Vita, is in discussion with CAAM Sgr about the possible placement of a further €150m into Crédit Agricole funds.
Caripalma is said to be keen to build on its current relationship with CAAM, with particular interest in its GPF strategy, which is trust management through funds with guaranteed capital and bonds being indexed to Crédit Agricole mutual funds.