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Italian foundations launch own asset management company
1 December 2008
Alliance magazine
Three Italian foundations have set up their own asset management company tailor-made in order to ‘build an investment platform which fully understands foundations’. Ninety per cent of what we do is for foundations, explains Luca Vaiani, Chairperson of Fondaco Lux. This means aligning the new company with foundations in terms of transparency, governance and fee structure and understanding exactly what they need. ‘Foundations are both our shareholders and our subscribers,’ says Vaiani.
