Northern Trust in €125m Italian multi-manager win
ITALY – Northern Trust Global Investments (NTGI) has won a mandate to run four €125m seeded mutual funds for Italian banking group, Mediolanum.
The funds, based in Dublin, are to be run on a manager of manager basis. They comprise global equities, global equities aggressive, global balanced and European bonds.
Stephen Potter, head of NTGI in Europe, comments: “We have long recognised the role of the multi-manager approach. The investment market in Italy has changed dramatically over the past two years and we are delighted to be working with a business that has such a strong track record and reputation in its field.”
Mario Noera, chief of Mediolanum Asset Management, says: “We are seeing increasing demand from our clients for a broader range of investment products. We strongly endorse the multi-manager investment approach and believe it has a very substantial role to play in investment provision in Italy.”
Mediolanum, listed on the Milan Stock Exchange, provides financial services solutions to individuals, from a range of insurance, pensions, savings and investments products. It has over 680,000 individual customers, with total assets under management of €20bn.