Minerva Investment Management Society

Fund Update · Italian Equity PIR Fund

Italian Equity PIR Fund - May 2023

· Portfolio Management · Italian Equity PIR Fund

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Summary

The Italian Equity PIR Fund is an actively managed fund by Minerva Investment Management Society, exclusively made of Italian Equity and following an investment solution known as PIR, Piano Individuale di Risparmio (Individual Savings Plan), which allows to benefit from considerable fiscal advantages. To qualify as a PIR fund, a portfolio has to follow different requirements. First of all, at least 70% of its assets has to be invested in financial instruments of companies with a long-lasting presence in Italy. Secondly, at least 25% of this 70%, that is at least 17.5% of the overall portfolio, has to be invested in financial instruments of companies which are not included in the FTSE MIB or equivalent foreign indices. Finally, at least 5% of this 70%, that is at least 3.5% of the overall portfolio, has to be invested in financial instruments of companies not belonging to either the FTSE MIB, the FTSE Italia Mid Cap or equivalent foreign indices.

The ultimate goal of the fund is to outperform its benchmark, which is made up by two indexes, the FTSE MIB and the FTSE Italia Mid-Small Cap PIR Index. Each stock was chosen keeping in mind both the requirements outlined previously and the macroeconomic outlook, with particular attention to the Italian one.

Authors

  • Jacopo PrevedelloPortfolio Manager
  • Lorenzo SpadaSenior Portfolio Analyst
  • Daniele BiondiPortfolio Analyst
  • Luca DelorenziPortfolio Analyst
  • Martina PerronePortfolio Analyst
  • Davide GiulianoHead of Asset Management
  • Gianluca CaffiHead of Portfolio Management

Details

Published
30 May 2023
Division
Portfolio Management
Fund
Italian Equity PIR Fund
Type
Fund Update
Pages
16
Authors
7

Cite this report

Minerva Investment Management Society (2023). Italian Equity PIR Fund - May 2023. Portfolio Management. https://minervaims.org/archive/italian-equity-pir-fund-may-2023

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