Reports

Italian Banks Dominate New Rankings

Stephen Harris 20 March 2006

Italian Banks Dominate New Rankings

Italian banks dominate a new ranking of the top Italian and Spanish asset managers produced by EDHEC and EuroPerformance. Of the ten mana...

Italian banks dominate a new ranking of the top Italian and Spanish asset managers produced by EDHEC and EuroPerformance. Of the ten managers selected in the rankings, only one is a subsidiary of a foreign group - D Deutsche Bank-owned WS Investment Italy. Top of the rankings in Italy is independent asset manager, Anima SGR. Second on the list is Azimut and third place is taken by Pioneer of the Unicredito Italiano group, the third largest Italian manager in terms of assets under management. Top of the list in Spain is Gesbankinter, the asset management subsidiary of Bankinter. In second place is the management company of Bancaja, and third place goes to Banco Sabadell’s asset management subsidiary. Of the five Spanish management companies selected for the rankings, four are among the ten largest managers in the contry, reinforcing the domination of the banking networks in active management and their capacity to generate alpha with a high level of frequency. The research found that internationally invested funds dominate alpha creation in both Spain and Italy. Italy’s stock market has a comparatively low capitalisation so managers need to look for higher levels of liquidity in larger markets.

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