Italy’s asset manager Azimut Holding has announced its plans to create a new global team alongside a global trading desk aimed at rationalising its product offering and leveraging on the group’s international platform.
The strategy entails as a whole to set up a new asset management model in order to reshape and foster the group’s global strategy.
In particular, the creation of a global asset management team aims at enabling Azimut to monitor the financial markets 24 hours a day, through various teams based in EMEA, Asia-Pacific and the Americas. “It will enhance a broader coverage, coordination and sharing of information amongst portfolio managers around the world, creating synergies that will foster the launch of global funds by leveraging on the expertise and competencies worldwide,”the company echoed.
The plan also entails the launch of a global trading desk, which is expected to improve the operating costs and functionality. It will be based and will follow the EMEA time zone, followed by Asia-Pacific and the Americas.
As part of the strategy, Azimut has started revising the Luxembourg-based umbrella fund AZ Fund 1, that involves the merger of almost 20 funds, the rebranding of all products (for a better clarity towards Financial Advisors and clients), and the launch of funds – including the Munis Yield (investing in fixed income securities issued by American municipalities and/or US treasuries) and the Global Infrastructure, which invests mostly in securities issued by global companies that own and/or manage infrastructure activities.
The group’s individual managed accounts are also part of the restructuring process, to be led by Massimo Donatoni as new head of the division. It will involve the addition of a benchmark approach to the existing total return approach, as well as the launch of two separate management teams in order to fully satisfy the sophisticated needs of Azimut’s top clients.
Azimut’s CEO and managing director Sergio Albarelli said: “The creation of a global team and a global trading desk is coherent with the group’s internationalization strategy. It will bring significant operating savings and will allow us to be well positioned vis-à-vis any new European regulation. We will be the only Italian asset management company offering this type of global service to clients, also throughout a rationalisation of the product range and improvement of the overall offering.”