Profilo sells off mutual funds to Anthilia Capital

Profilo Asset Management, part of the Banca Profilo group in Milan, has agreed to sell its mutual funds business to Anthilia Capital Partners.

The sale concerns two funds worth €60m, the Profilo Elite Flessibile, a fund with a European corporate debt strategy, and the Profilo Best Funds, which focuses on global fixed income. These funds will be renamed Anthilia Yellow and Anthilia Orange respectively, but their investment strategies remain unchanged.

The acquisition of the two Italian domestic mutual funds brings Anthilia’s AUM to €600m, and adds to its range of six Luxembourg funds, covering equities, fixed income, commodities, money markets and real estate.

Banca Profilo, which has assets under management of almost €2bn, says the sale of these funds is part of a broader strategy of focusing on private banking, “based on a culture of service, without conflicts of interest affecting investment solutions and products offered to clients, and offering advice specifically based on client need.”

Banca Profilo’s controlling shareholder is Arepo BP, owned by Sator Private Equity Fund, run by former Capitalia chief executive Matteo Arpe. Last month, he made an offer of €450 million for control of Premafin, the controlling company of insurance group Fondiaria.

The Banca Profilo private banking unit operates through nine branches in Italy and one Swiss subsididary Société Bancaire Privée in Geneva. It also has interests in investment banking, which focuses on SMEs and private equity; brokerage, with equity and fixed income desks; and proprietary trading of bonds and derivatives.


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