The Italian postal service provider Poste Italiane and the banking group Intesa Sanpaolo have signed a three-year distribution agreement aimed at expanding both entities’ product offering to their customers. The deal will see Poste Italiane distributing mortgages and personal loans underwritten by Intesa Sanpaolo through its office network as well as asset management products – […]
Europe’s postal services sector is not necessarily one that appears on the radar screen that often. The sector has been estimated to account for less than 1% of EU GDP, while in 2013 it employed some 1.2 million, mostly in universal postal services – ie, not in asset management. Agriculture employed roughly ten times that number across the EU27, while many of the […]
Italy’s asset management industry posted net inflows of €8.7bn in September, industry association Assogestioni has revealed. Although the result brings total net inflows since the beginning of the year to €120bn, open-ended funds, which traditionally are the biggest source of income for the industry, slowed down significantly in September with €2.8bn net inflows against the […]
The Italian Treasury seeks to raise some €3.7bn through the IPO of Poste Italiane. The government will offer around 40% of the company at a price of between €6 and €7.50 per share, the Finance Ministry said in a statement following the regulatory body Consob’s approval of Poste Italiane request for an IPO. The company will be valued between […]
Poste Italiane has filed plans with the stock market regulator for the upcoming initial public offering (IPO). Poste Italiane presented its IPO request both to the Italian stock exchange Borse Italiana as well as to the regulatory body Consob. The Italian Treasury also issued a statement saying that a significant proportion of the IPO will be […]
Italy’s Banca Monte dei Paschi di Siena (MPS) has sold to Poste Italiane its 10.3% share in asset manager Anima Holding. The price is of €6.80 per share for a total value of €210m, to which is to be added 2014 dividends going to MPS for a total of €5.2m. MPS put in place a […]
Italy’s asset management industry reached total AUM of €1,480bn in July, hitting new record levels, according to industry association Assogestioni. Total net inflows for the month were of €15.3bn, +€75.7bn since the start of the year. The positive result was led by open-ended funds, which posted total net inflows of €11.2bn. Institutional mandates brought positive […]
iShares’ ETFs will be available on BancoPosta’s trading platform online without fees for investments starting from €1,000 for the next six months.