Milan fund manager set for relaunch
Two Intesa Sanpaolo subsidiaries have taken over Epsilon Sgr, in readiness for a relaunch
Eurizon Capital and Banca IMI are set to relaunch the specialist active manager Epsilon Sgr, following a reshuffle of shareholders. Banca Popolare di Milano sold a minority holding in Epsilon to Eurizon, giving the Intesa group asset manager a controlling 51% stake. Banca IMI, Intesa’s investment banking division, holds the remaining 49%.
Epsilon will be a specialist active fund manager, seeking to outperform benchmarks. Originally launched in 1997 as a quant manager, Epsilon has developed total return, multi-asset strategy capabilities. Eurizon will bring to bear traditional and alternative fund management skills, while Banca IMI will offer investment banking, trading and research input.
As a result, Epsilon is now offering investors a new funds range incorporating the risk management and capital protection features typical of investment banking. Epsilon will be seeking low volatility investment opportunities to enable clients to invest in even the most volatile markets.
Eurizon Capital has €170bn in assets under management, from both retail and institutional clients.