AcomeA boosts AUM with Sicav merger
Italy’s independent asset manager AcomeA SGR has merged the Luxembourg domiciled Rovere Sicav into nine Italian domiciled AcomeA funds.
Thanks to the merger, AcomeA’s AUM increased from €1bn to €1.4bn, the asset manager said.
Rovere Sicav’s shareholders were Banco Desio, Banca del Piemonte and Gruppo Cassa di Risparmio di Ravenna, which signed distribution agreements with AcomeA to distribute the funds.
Banca del Piemonte will distribute the liquidity, bond, equity and flexible multi-asset funds through its 50 branches through the country.
The Gruppo Cassa di Risparmio di Ravenna will do the same through its 139 branches.
AcomeA president Alberto Foà (pictured) said he is pleased with the merger as it both allows the asset manager to strengthen its commercial relationship with Banco Desio and grow its AUM.