Italy's Algebris Investments has made its Ucits Financial Credit Fund and Financial Income Fund available on Banca Ifigest's platform Fundstore.it.
Italy’s Algebris Investments has made its Ucits Financial Credit Fund and Financial Income Fund available on Banca Ifigest’s platform Fundstore.it.
The Italian boutique signed a distribution agreement with Banca Ifigest which makes its two Ucits funds available to the bank’s retail clients without subscription, switch or refund fees.
Fundstore.it is the only online fund platform in Italy that allows clients to buy mutual funds and Sicavs through their bank account.
The two funds that Algebris will start offering on Fundstore.it are its Financial Credit Fund, investing in debt instruments issued by large banks, including hybrid bonds and Cocos; and its Financial Income Fund, investing in subordinate bonds as well as high dividend yield equities.
Davide Serra (pictured), founder and CEO of Algebris Investments, hailed the agreement as a way to expand the firm’s client basis as well as an efficient way for investors to access Algebris’ long-only funds.
Fundstore.it’s CEO Simone Calamai also expressed his satisfaction with the deal, stressing that it will allow the company to offer Algebris’ “high quality funds” to its retail clients.
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