Generali Investments Deutschland Kapitalanlagegesellschaft mbH (GID) has been merged into Generali Investments Europe S.p.A. Società di gestione del risparmio (Generali Investments) effective from the beginning of June 2016. The transaction is part of the Generali Group’s strategic decision to streamline its global asset management operations and has been enabled by recent regulatory changes facilitating the passporting of funds across Europe.
Santo Borsellino, CEO of Generali Investments, has commented: “The merger of GID into Generali Investments is another step forward in the process aimed at creating the pan- European and borderless asset management hub of the Generali Group. We have now simplified our structures in Germany, aiming at achieving better coordination across the company and serving our internal and external German clients more efficiently.”
GID was an asset management company belonging to the Generali Group, operating in Germany and acting as the management company for third-party and Generali Group insurance portfolios. As of year-end 2015, GID counted on 47 professionals and approximately €33 bn of total AuM. For most of GID’s AuM Generali Investments acted as the delegated investment manager. Furthermore, most of GID’s AuM consisted of German Spezialfonds (AIF) and mandates set up for the benefit of the Generali Group insurance companies.
Generali Investments is one of the first players in the European asset management industry to apply, at the same time, the passporting procedures as per the recently introduced UCITS and AIFMD EU directives. As a result, Generali Investments will offer its German clients, and manage, a comprehensive range of investment solutions including UCITS and AIFMD- compliant Germany-domiciled investment funds, such as the Spezialfonds, previously administered by GID as a Germany-based asset management company.