Investments, Asset & Wealth Management
The business unit unifies in a single entity the Group’s units operating in investments, asset management and wealth management.
Figures as at 31.12.2019
In continuity with the Group strategy announced in 2017, the Investments, Asset & Wealth Management business unit is the main managerial entity of the Group operating in the area of investments, asset management and financial planning consultancy. In a continuously evolving market in which specialisation, efficiency and innovation are crucial elements in order to compete, Generali aims at becoming a company of reference in the asset management market not only for the insurance companies of the Generali Group, but also for third-party customers. This objective will continue to be followed for the entire duration of the three-year plan in order to:
- exploit the process cross-selling and streamline opportunities in order to expand the customer base, above all outside the Group, at the same time promoting a business’s growth at low capital absorption. One example is given by the launch of the LDI (Liability Driven Investments) Solutions services that aims at offering institutional customers not falling within the scope of the Group their insurance business expertise, developed over the years, on the subject of asset management;
- expand a Multi-boutique platform increasing the number of asset management companies partnered with operators having acknowledged investment skills in order to expand the offer of products and services, in any case with the objective of aligning interests between the Boutiques management and the Group and a limited risk for shareholders. Following the 2018 launching of Generali Global Infrastructure (GGI), a platform that employs internal know-how and also creates partnerships to invest in infrastructure debt across a wide geographical and sectorial investment scope and develop a range of products and solutions for investors, several acquisitions were concluded in 2019, including: Sycomore Factory SAS, a player of reference for the ESG/SRI investment solutions in France, KD Skladi in Slovenia, acquired through Adriatic Slovenica and Union Investments TFI S.A. in Poland (later renamed Union Generali TFI), the sixth largest asset management operator in Poland.
The business unit operates in the three areas depicted by its name:
- Investment Management: implementation of the Asset Liability Management (ALM) and Strategic Asset Allocation (SAA) models for the Group Insurance Companies;
- Asset Management: asset management for the most part addressed to insurance customers, with its customer base expanded to comprise external customers, both institutional (such as pension funds and foundations) and retail;
- Wealth Management: financial planning and asset protection for customers through a network of consultants at the top of the sector in terms of skills and professionalism, mainly through Banca Generali, a leading private bank in Italy.
MANAGER IN CHARGE
The Group CIO and CEO Asset & Wealth Management is Timothy Ryan.
MAIN GROUP COMPANIES
- Gruppo Banca Generali (www.bancagenerali.com)
Banca Generali is a private bank specializing in wealth protection and in supporting households with planning their life projects. The company stands out in the industry for its excellent network of financial advisors, its innovation-oriented approach and its unique range of investment solutions and wealth management services.
- Generali Real Estate SpA, with GRE S.G.R., is focused on the enhancement and management of the real estate assets of Assicurazioni Generali Group in Italy and all over the world.
- Generali Insurance Asset Management S.P.A. (GIAM), born from the split of Generali Investments Europe, is specialized in the asset management of the insurance companies belonging to Assicurazioni Generali and pension funds. GIAM has a solid track record in terms of performances for the Liability Driven Investments.
- Generali Investment Partners SpA (GIP), also born from the split of Generali Investments Europe, offers itself as the growth engine in terms of number of clients and managed assets.
- Generali Investment Luxembourg S.A. (GIL), is an asset management company under Luxembourg law.
- Generali Investment Holding SpA, which acts as a holding company, holds the share capital of the Boutiques and of the Legal Entities such as GIAM, GIP, GIL It provides a wide range of services to support the asset management activities.
- Fortuna Investments, headquartered in Zurich, is in charge for managing the assets of the Swiss insurance company.
- Generali Investments CEE is the main asset manager of the group in the Central Eastern Europe area, servicing insurance and reinsurance companies, pension funds, banks, financial institutions and foundations.
- Generali China Asset Management, born in 2013, is a joint venture between Assicurazioni Generali and China National Petroleum Corporation. It works with all the main asset classes, including liquid assets, fixed income, stocks and real estate.
- Guotai AMC, is a Chinese asset management company partially owned by Generali Group, authorized to manage all asset classes, including corporate pension plans in the Chinese market.
Launch of Axis Retail Partners, a new real estate boutique focusing on shopping centre investments. Such sector continues to be marked by solid fundamentals and offers an interesting entry point due to the current market juncture.
Completed the acquisition of Adriatic Slovenica, including KD Skladi a mutual fund manager with over € 750 milion of assets under management that ranks 2nd in Slovenia with a market share of 20% and also has a presence in Croatia and Macedonia.
Headquartered in Paris, it is a leading independent asset manager with over €6.4 billion AuM as of December 2019. Sycomore is an undisputed pioneer in the ESG / SRI segment in France (Europe's largest market for ESG / SRI investment solutions), and has become over time a true reference player in this area. Since its foundation, Sycomore's mission has been to deliver sustainable performance, notably by identifying companies' levers for long-term value creation. Sycomore's expertise is driven by a field-approach and a proprietary fundamental research methodology including financial and extra-financial criteria.