The latest offerings in investments, such as funds and structured products, and other notable developments.
Dublin-based Mediolanum International has launched its first impact fund for clients. The Mediolanum Best Brands Global Impact Fund is aimed towards long-term capital growth by investing in a diversified portfolio of global equity securities through an active multi-manager approach, initially managed by Baillie Gifford and Federated Hermes.
The fund will invest in companies whose products and services are providing solutions to global challenges rather than simply investing in companies who adopt responsible business practices or excluding companies that are doing harm.
Both managers will offer exposure across four impact themes and UN SDGs on top of geographic, capitalisation and sector diversification. Selected themes include social inclusion and education; environment and resource needs; healthcare and quality of life; and a “base of the pyramid” theme addressing the needs of the poorest four billion people.
The fund will be open to investors in Italy and Spain through the group's professional network of financial planners. Mediolanum manages around €44 billion (£39.1 billion) in assets across 60 funds.
“As markets continue to feel the ongoing effects of the global pandemic, investors are increasingly looking to allocate towards the support of a greener recovery. Based on client feedback, we have leveraged wide-ranging expertise to create bespoke, next-generation impact investment product,” Christophe Jaubert CIO and head of research for multi-management, said.
Palmira Capital Partners
Palmira Capital Partners, which concentrates on European logistics and industrial properties, has launched the "Palmira European Core Logistics Fund." This is an open-ended fund pitched at institutional investors, and aimed at an equity volume of at least €350 million ($416.6 million).
Palmira already has equity commitments totalling over €100 million and, currently, three properties in Germany, the Netherlands and Poland are under investigation for acquisition.
Since 2017, Palmira has invested over €1 billion in logistics and light industrial properties, which are managed by an in-house specialist team spread over nine offices in Europe. All the investment vehicles issued by Palmira have significantly exceeded their targets since they were launched.