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 December 31, 2018
In line with the Group strategy announced in 2017, the Investments, Asset & Wealth Management business unit aims at becoming the unique managerial entity of the Group operating in the area of investments, asset management and financial planning consultancy. Its ambition is to expand its current customer base, today for the most part captive, through third-party customers, in this way evolving from its role of insurance business service to a benchmark in the asset management market. The transformation into more modern and effective organisation model announced in 2017, which continued in 2018, offers the possibility to:
- tap the process cross-selling and streamlining 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;
- develop a Multi-boutique platform consisting of creating 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. In this perspective, several important initiatives were launched in 2018. Generali Global Infrastructure (GGI) was launched at the beginning of the year. It is 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.
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 services for the Private customers, mainly offered through the Banca Generali Group.
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.
GRE SGR (www.gresgr.it)
Since July 2015, Servizi Real Estate Italia and Generali Immobiliare Italia SGR S.p.A. merged into Generali Real Estate S.p.A. - Società di Gestione del Risparmio (GRE SGR), owned for 100% by Generali Real Estate S.p.A. which manages the real estate of Gruppo Generali worldwide. GRE SGR focuses on esteems of real estate in Italy.
Fanno parte di Generali Investments, a seguito della riorganizzazione societaria avvenuta nell’ottobre 2018:
- Generali Insurance Asset Management S.p.A. che è una Sgr specializzata in soluzioni Liability Driven (LDI) che fa leva su solide competenze maturate con i portafogli assicurativi del Gruppo Generali e i mandati conferiti dai fondi pensione.
- Generali Investments Partners S.p.A., una Sgr specializzata nella gestione di portafogli sulla base di strategie attive, che si focalizzano su investimenti azionari ed obbligazionari ed innovative strategie alternative
- Generali Investments Holding S.p.A. la società che garantisce una struttura di servizi condivisi a supporto delle attività di gestione e ha il ruolo di holding e detiene le quote di capitale delle boutique e delle società di gestione di Generali Investments
- Generali Investments Luxembourg S.A., società di diritto lussemburghese
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.
Announced the closing of the acquisition of a majority stake in Sycomore Factory SAS, the controlling company of Sycomore Asset Management SA, having received the authorization of the relevant antitrust and regulatory authorities to the partnership proposed in September 2018.