Italian asset manager Kairos, owned by Swiss financial group Julius Baer, has launched the Kairos International Sicav – Italia PIR fund, which complies with the requirements of the PIR fund regulation introduced in Italy (tax-exempt and long-term individual savings plans).
The PIR regulation enables Italian investors to invest in local small and medium enterprises and support their development over the mid-long term.
The KIS Italia PIR’s portfolio encompasses three asset classes : Italian equities, European equities and corporate bonds. It is co-managed by Kairos’ head of Italian Equities Massimo Trabattoni, head of Fixed Income Rocco Bove and Federico Trabucco, equity Europe senior portfolio manager.
The fund will invest primarily in Italian companies showing robust fundamentals.
A focus will be on companies with the best risk-return ratio in the corporate bond area in order to balance the portfolio while country risk will be reduced through the play of European equities by the selection of European high quality large cap stocks found in stable sectors.
Commenting on the launch of the fund, Kairos’ founder and chief executive officer Paolo Basilico said, “the PIR instrument introduced by the Government under the recent Stability Law represents a huge opportunity for the Italian economic system and also for savers, who can diversify their portfolio advantageously with a new form of medium/long-term investment.
“At the same time, the liquidity channeled to these instruments will be a driving force for the growth in our share prices, in particular for less liquid shares.”
Established in 1999, Kairos manages over €10bn of assets.