Portfolio Management

The Portfolio Management business area carries out the management of discretionary accounts and funds. Since 2003 Equita has been working with institutions such as Banca Esperia and Banca Generali, and currently manages three discretionary accounts for the Credem Group and a fund of Euromobiliare Asset Management SGR.


PORTFOLIO MANAGEMENT

  • Assets under Management of approximately €700 million at 30 November 2018

Discretionary accounts

  • Italy Top Selection (blue chips)
  • Top Selection Mid Small (small cap)
  • Top Selection Opportunity (balanced)

Investment Philosophy

  • Concentrated portfolios with up to 25-30 stocks
  • Meetings with management of the companies in which portfolio is invested
  • Evaluation of investment opportunities based on fundamentals
  • Continuous support of the research team

 


The philosophy of Equita is based on focused portfolios of 25-30 stocks, strong bets on individual stocks and sectors based on fundamental analysis, continuous exchanges of views with the analysts of the Research team and salespersons of Sales & Trading, frequent meetings with the management of companies in the portfolios, valuation approaches based on market multiples and DCF (while reducing the weight attributed to the forecast years beyond the third and paying great attention to the downside in the worst case scenario).


Distribution agreement with Blueglen Investment Partners Limited

Equita has expanded its range of products thanks to the partnership signed in July 2018 with Blueglen Investment Partners Limited.

Blueglen Investment Partners Limited, founded in 2016 by Guglielmo Sartori di Borgoricco and Chris Goekjian, is a multi-strategy alternative asset manager focused on European credit.

The fund, called “G10 Blueglen Equita Total Return Credit UCITS Fund” (or BETR), invests in junior tranches of collateralised loan obligations (CLOs), junior bonds and credit default swaps of primary European industrial and financial companies.

Equita acts as the exclusive distributor for Italy.

The fund has a moderate leverage and has an annual return target (net of fees) of 5-6% in euro, four share classes (EUR, USD, GBP and CHF) and benefits from innovative investment and risk management strategies.

For more information on the “G10 Blueglen Equita Total Return” fund click here.

 


MANAGEMENT OF "EUROMOBILIARE EQUITY MID SMALL CAP" FUND

Equita, through its subsidiary Equita SIM S.p.A., manages the "Euromobiliare Equity Mid Small Cap" fund which raised nearly Euro 400 million in November 2018. This initiative confirms the partnership and trust relationship between Equita and the Credem Group. The fund, established by Euromobiliare Asset Management SGR (management company fully owned by Credem), has been fully placed by the Credem Group’s network to its clients.

The fund follows a “flexible” investment strategy, focusing its investments on equities of Italian listed companies – mainly small and mid-caps – in addition to a portion of European listed companies. The fund, now closed and with no additional subscriptions expected, has a tenure of 7 years. The return objective within the fund’s horizon is to increase the invested capital.