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Mediolanum partners with trio of investment boutiques

European asset management platform Mediolanum International Funds Ltd (MIFL) has inked partnerships with Cadence, Intermede and RWC.

The three new equity mandates total over €1bn.

MIFL will provide all three firms access to its distribution platform in Italy, Spain and Germany.

The news follows hot on the heels of two equity mandates announced by MIFL earlier this month with US boutiques SGA and NZS Capital.

Cadence

The agreement with Edinburgh-based Cadence Investment Partners will see MIFL allocating €130m in the boutique’s flagship Asia strategy.

Cadence is a long-term investor focused on intrinsic value investing within high-quality businesses, capable of translating the growth of Asia into superior returns.

Jason McCay, managing partner at Cadence, commented: “The relationship marks an important step in the development of Cadence Investment Partners. Having access to Mediolanum’s distribution platform through this agreement will enable us to continue to focus on our strength as a business, which is putting portfolio management first.”

Intermede

MIFL will be allocating €700m to London-based Intermede’s global equity strategy through a sub-advisory mandate.

The funds research-intensive, fundamental, bottom-up investment philosophy has led to a high-quality growth focused strategy with a concentrated portfolio (40-50 holdings) and a strong active share.

Barry Dargan, portfolio manager and chief executive at Intermede Investment Partners said: “This sub-advisory agreement opens up new horizons for us and will allow us to offer a range of European retail clients access to a portfolio that identifies the best-in-class companies at a discount, no matter the market condition.”

RWC

MIFL is also allocating approximately €300m into RWC Partners, investing €60m in their emerging markets strategy and seeding a mandate of €240m euro in their new global equity income strategy managed by a team who recently joined RWC.

Nick Clay, lead portfolio manager at RWC Partners, commented: “We look forward to building a strong long-term partnership with MIFL as we embark on our journey at RWC. We have successfully achieved long term capital growth and sustainable income from our portfolio of global securities and through this partnership will now be able to bring this success to MIFL’s clients.”

Furio Pietribiasi, chief executive of Mediolanum International Funds Limited, added: “Our objective remains clear. We want at least one third of all our assets managed externally, around €10bn, to be allocated to boutique managers within the next five years.

“Our flexibility and solid infrastructure have proven to be instrumental in supporting start-ups founded by very small teams, as well as more established managers like RWC, which is an entrepreneurial organisation made up of different teams of high performing investment professionals.”

Kirsten Hastings

Kirsten is international editor of Expert Investor and International Adviser. She joined Last Word Media in October 2015. Kirsten has a Masters in Financial Journalism from the...

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