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CLASS

Credem Group to raise 206 million for its second China Evolution fund

April 29, 2021


Abstract : The amount of 206 million euros has been raised by the distribution networks of Credem Group, one of the most solid and leading Italian banking companies, for the Euromobiliare Fidelity China Evolution - Atto II fund launched on last March 8.

MILAN, April 27 (Class Editori) -- The amount of 206 million euros has been raised by the distribution networks of Credem Group, one of the most solid and leading Italian banking companies, for the Euromobiliare Fidelity China Evolution - Atto II fund launched on last March 8. During the subscription period ended on last April 16, experts of the private banking Group, which also includes Banca Euromobiliare, raised 147 million euros and the commercial business unit of the bank, which deals with smaller account holders, an additional amount of 59 million euros with the main contribution of the network of Credem's financial advisors.

Fidelity International will be in charge of the fund created by Euromobiliare Asset Management, the asset management company of Credem Group: a successful partnership as witnessed by the Euromobiliare Fidelity China fund.

"With this solution, Credem Group confirms its consulting business with new ideas and skills that could implement portfolio choices of markets, themes and geographical areas with interesting potential. All this while respecting the regulation and diversification that is typical of managed products, with the aim of guiding clients to conscious choices consistent with their needs, risk profile and time frame," Massimo Arduini, Chief Commercial Officer of Credem Group, stated.

"Through their bankers and consultants, our clients have been able to take advantage of the great strength and growth potential of Chinese economy. The validity of our advisory model is also confirmed by our reactivity as concerns the enrichment of our portfolios with new offers in order to detect ongoing trends, such as in this case the growth potential of Chinese market, which reported a record rebound of 18.2 percent y-o-y in the first quarter of the year. We are determined to constantly look for innovation and excellence for the Group's Private clients", Matteo Benetti, General Manager of Banca Euromobiliare and Head of Private Banking Credem, added.

The first Evolution fund, launched in last August, has raised funding worth more than 400 million euros, while with the second one Credem Group has continued its collaboration with one of the most important players in thematic investments in the Far East. The Evolution II fund is characterized by a flexible equity strategy with exposure to the Chinese market and focus on leading companies in terms of innovative capacity that can adapt to changes and drive domestic demand. Key sectors include services, digital technology, education, smart building and healthcare. (All rights reserved)

(Source:Class Editori)

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Keyword: Credem Group China Evolution fund

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