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Wells Fargo AM Makes International Funds Available To Italian Investors

Stephen Little

13 May 2014

has registered its investment sub-funds under the Wells Fargo (Lux) Worldwide Fund for distribution in Italy to retail investors as part of its growth strategy to develop its international offerings.

To facilitate all retail business, Wells Fargo Asset Management has appointed Societe Generale Securities Services SpA as the correspondent bank in Italy, Wells Fargo said in a statement.

The funds offer Italian investors a range of investments from experienced portfolio managers whose investment strategies were unavailable or under-represented in these markets.

Although the entire fund range is new to retail investors in Italy, some of the funds have a track record in Europe since 2008, complemented by an additional six funds which were launched in June 2012.

The funds have been registered for sale to institutional investors in Italy since 2008.

“At $818 billion (€611 billion), Italy is the fourth largest European fund market, with good potential for growth and competition. The registration of our funds for distribution in Italy will allow institutional and retail investors access to more of our established portfolio management teams and provide them with fund options that have the potential to serve as valuable complements to their existing investments,” said Ludger Peters, managing director of international business development at Wells Fargo Asset Management.