EUROPE - Pioneer Investments is to leverage the recent integration of Activest into the Pioneer group to expand its offering in the Italian, Dutch and Danish pensions markets.
The firm is particularly interested in the Italian market, where the Trattamento Fine Rapporto (TFR) reforms which aim to stimulate the defined contribution pensions sector are being introduced on 1 January next year.
“There were many synergies between the two groups and now that the two groups are integrated we can leverage Pioneer’s existing relationships in Denmark and the Netherlands to bring the Activest products to a much wider market,” commented Paul Price, global head of institutional for the international division.
“We’re doing a lot of business now across Italy. The combined experience and skills of the now integrated team is beginning to generate some very interesting product ideas for the Italian market which we haven’t seen before.”
The legal ownership transfer of Activest to Pioneer Global Asset Management was completed in July this year, with the rebranding announced in October. The integration of the two groups has significantly boosted Pioneer’s capabilities, particularly in total return and global equity from the old Activest business in Germany.
Managers looking to capitalise on the Italian reforms will have to seek regulatory approval from the Bank of Italy. “We’re already a dominant player in the long only space, in terms of the Italian market we’re probably the only global asset manager operating in that market that has a local domicile behind it,” said Price.
“Our founding fathers are out of Milan so from our perspective it’s already a market where we have significant
traction in terms of marketshare and I think we will build further on that with our offering in the guaranteed area as well, obviously subject to regulatory approval by the Bank of Italy.”
Investors, driven by depressed interest rates, slower global economic growth and rich equity market valuations are examining non-traditional investment opportunities.
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
Susan Martin says building strong foundations for business are the only way forward as the pensions industry is radically shaken up