Oddo AM joins forces with Italy’s Generali for fund of funds launch
French asset management firm Oddo Asset Management has unveiled today Oddo Expertise Europe, a new fund of funds developed for Italy’s Banca Generali.
Oddo Expertise Europe is a European equity fund managed by the firm’s asset allocation team to outperform the Stoxx Europe 600 index for the equity component (80%) and Exane Eci for the convertible component (20%).
The fund will be part of Luxembourg Sicav BG Selection. The investment horizon is 5 years and the minimum investment is €500.
The investment portfolio includes growth and value blend management styles, as well as a stock picking approach.
As well as exposure to European equities, the portfolio allows for a 30% allocation to convertible bonds.
Funds included in the portfolio are: Oddo Generation Europe/Oddo Generation; Oddo Funds Large Cap Europe; Oddo Avenir Europe/Oddo Avenir; Oddo Valeurs Rendement; Oddo Immobilier; Oddo European Banks; Oddo Active Equities €; Oddo Convertibles; Oddo Convertibles Taux and Oddo Commodities Convertibles.
“With this partnership with Banca Generali we have entered the Italian retail market. Oddo Expertise Europe is a unique investment solution as it combines the best Oddo AM’s funds, with a strong focus on European equity markets,” said Bertrand Levavasseur (pictured), head of international development.
Oddo has been active in the Italian market since 2011.
Mahler added that European equities, and in particular eurozone equities, have been less exploited recently compared to other markets.
“Valuations have been driven down by the perception of a very high systemic risk in the eurozone, but recent measures announced by the European Central Bank could restart a process of credibility on the market. We think European equities can offer very interesting investment opportunities in the medium and long term, if selected with a rigourous stock-picking approach,” he said.
Part of French banking group Oddo & Cie, Oddo Asset management has about €11.2bn assets ander managements.