Generali Investments absorbs German AM branch

Italy-headquartered Generali Investments has announced the merger of its German asset management subsidiary,  Generali Investments Deutschland (GID) into Generali Investments Europe, effective from the beginning of June 2016.

The move is in line with the group’s decision to streamline its global asset management operations and has been enabled by regulatory changes that eased the passporting of funds across Europe.

GID was acting in Germany as the management company for third-party and Generali Group insurance portfolios.

At the end of 2015, it totalled €33bn in assets under management.

Most of GID’s AUM were gathered into German Spezialfonds (AIF) and mandates set up for the benefit of the Generali Group insurance companies.

Generali Investments said it will offer its German clients and manage a range of investment solutions including Ucits and AIFMD compliant Germany-domiciled investment funds, such as the Spezialfonds, previously administered by GID.

Santo Borsellino, CEO of Generali Investments, commented: “The merger of GID into Generali Investments is another step forward in the process aimed at creating the pan- European and borderless asset management hub of the Generali Group.

“We have now simplified our structures in Germany, aiming at achieving better coordination across the company and serving our internal and external German clients more efficiently.”

Generali Investments had €431bn of AUM as of 31 December 2015.

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