MFS Investment Management has entered into a distribution agreement with Allianz Bank Financial Advisors in Italy.
This will make the firm’s Prudent Capital Fund, part of MFS Meridian Funds, available to Italian retail investors.
They will be able to access it via Darta Saving Life Assurance’s platforms Unit Linked Challenge Pro and Challenge Private.
Darta is a wholly-owned subsidiary of Allianz.
The agreement marks the third distribution deal MFS has signed in Italy in 2019, following ones with local bank CheBanca! and Deutsche Bank, both in June.
The investment manager’s Prudent Capital Fund invests in both equities and debt securities to mitigate downside risks by reducing overall market exposure, MFS said.
Its composition ranges between 50%-90% in global equity, 0% to 40% in cash or short-term equivalents and 10%-30% in global credits.
European growth
The latest agreement is part of MFS’ plans to expand further in Italy, as Andrea Baron, managing director for Italy, previously told International Adviser: “Growing our retail business outside of the US, and in particular across Europe, is a strategic priority for MFS.
“Italy is a key market for us given the solid relationship that financial consultants have built up with end investors, offering best in class solutions. Italian investors tend to be conservative in nature and our focus on quality and risk management means that our investment objectives are aligned with their preferences.
“The Italian market is also open to investing with foreign managers, especially as they look to diversify their portfolios.”
