Eurizon Capital SA

The Luxembourg subsidiary

Eurizon Capital SA is an asset management company established in 1988 in the Grand Duchy of Luxembourg and is controlled by Eurizon Capital SGR.

It manages and distributes Luxembourg UCITS addressed to retail customers and institutional clients. In Luxembourg, it also offers a wide range of services to institutional investors.

The company is specialised in monetary funds and in limited tracking error (LTE) management, that allows a close tracking of market trends. Eurizon Capital SA also creates and manages products addressed to retail, institutional, and large investors, and is the delegated manager of a number of Italian funds established by Eurizon Capital SGR.

The Company’s management teams can boast many years of experience in three specific fields:
  • Equity

    The team is made up of portfolio managers specialized in stock markets of developing, emerging and new frontier countries.

    The products are managed with an approach that begins with the analysis of the reference benchmark and sets an initial objective of efficient replication, in consideration of the investment constraints and with a particular focus on the liquidity of the selected securities.

    The portfolios are then optimized in order to achieve the highest expected return while respecting the assigned limits on Tracking Error Volatility (TEV). The definition of expected returns is obtained through a quantitative approach based on the analysis of factors (e.g. value, growth, momentum, risk), countries and sectors in order to obtain the best risk-return combination, taking into account current market conditions, macro-economic forecasts and valuation analysis.

    The team makes use of external and proprietary quantitative models that are appropriately calibrated in relation to the specifics of the markets of reference.

    The team is led by Luigi Antonaci.

  • Fixed Income

    The Fixed Income team is made up of portfolio managers who are specialized by financial instrument (money markets, governments).

    The management approach used entails a combination of top-down and bottom-up analyses. The investment process is typically top down, and is thus based on analysis of valuation models aggregated by market, and on the expected trend of the economic cycle, interest rates and inflation.

    Such analyses are the basis for the allocation decisions with respect to duration of the portfolios, exposure to individual countries, and the various maturities over the yield curve.

    Allocation decisions are taken in respect of the assigned limits on Tracking Error Volatility (TEV).

    The team is led by Andrea Giannotta.

  • Investment Solutions

    The job of the Investment Solutions team is to supply investment solutions and products that meet the varied needs of institutional clients, such as social security funds or banking foundations, giving them access, thanks to the creation of dedicated vehicles, to investment in both liquid asset classes, and illiquid products, such as hedge funds and Private Equity funds. At the same time, the team implements risk overlay of hedging strategies, with the aim of reducing the risk profile of the portfolios, using listed derivatives and OTC products.

    The desk also manages Unit-Linked insurance products with a Low Tracking Error approach, the asset allocation of which is focused on funds that are part of Eurizon’s range of products.

    The team is led by Enzo Foschi.

Eurizon Capital SA is led by Marco Bus and Jérôme Debertolis.

The Company’s Board of Directors is detailed below.

NAME AND SURNAME POSTION
Daniel Gros * Chairman (independent)
Saverio Perissinotto Vice Chairman
Marco Bus CEO and Conducting Officer
Jérôme Debertolis Co-Conducting Officer
Sandrine Dubois *
Independent Board Member
Massimo Mazzini Board Member

* Independent Board Member and member of the Independent Committee

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