According to reports from the Global Fund Analysis news service Italy's Generali Asset Management (GAM), the asset management arm of insurance giant Group Generali, is in the process of restructuring its fund operations by shifting its local fund ranges into a Luxembourg-domiciled société d'investissement à capital variable (SICAV) structure.
GAM will be adding fund products to its ranges where necessary, but the core idea behind the new SICAV is to prevent duplication between funds. GAM manages various fund ranges with assets in excess of US$116.5 billion (euros 130 billion) which are currently domiciled in their countries of sale including Belgium, France, Germany, Spain, Austria, the UK, Portugal, The Netherlands and Switzerland.
Generali also has plans to 're-engineer' its asset management activities in Italy, France and Germany which would operate as regional centres for research, training and asset management. The company also aims to overhaul its infrastructure by implementing new technology and improving conferencing facility links between offices.
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