Banca Esperia: The “Duemme Comitato Maria Letizia Verga” fund

    Banca Esperia, the private bank set up by Mediobanca and Mediolanum, and the Comitato Maria Letizia Verga, whose mission is to study and treat leukaemia in children, unveiled the “Duemme Comitato Maria Letizia Verga” philanthropic fund to an audience of potential investors at an event held at Villa Reale in Monza. The fund is available for subscription by investors starting form Thursday, 15 October 2015. The aim of the project is to provide a social finance instrument to provide ongoing financial support for the Committee’s activities.

    The “Duemme Comitato Maria Letizia Verga” fund is the second in a family of philanthropic social instruments which Banca Esperia has devised and instituted, starting from April 2015, with the launch of the Duemme San Patrignano fund, and which will see other initiatives launched in the coming months.

    The “Duemme Comitato Maria Letizia Verga” fund is a balanced fund with global diversification, managed by Duemme SGR, the Banca Esperia group fund management company, adopting a flexible style to ensure optimal exposure to global equity and bond markets while at the same time guaranteeing ongoing and scrupulous risk management. From the investors’ perspective, the fund has low risk and daily liquidity levels, enabling them to achieve returns similar to those for the best products on the market, and at the same time provide continuous support for philanthropic activities. Philanthropic funds guarantee that a percentage of the assets is distributed on a regular basis, for all the years in which the sums continue to be invested, thus allowing the beneficiaries to plan their activities and projects.

    The philanthropic aspect of the fund revolves around the fact that Banca Esperia, via Duemme SGR, manages this instrument by applying management fees which are 50% lower than the market average, with the fees not collected being used to finance the Committee’s activities. Furthermore, no performance fees are charged. In this way, the overall cost incurred by the investor is in line with market standards, while at the same time allowing the Committee’s activities to be financed.

    “We’re delighted to have this opportunity to continue with the initiative launched in the first half of this year, and that the Comitato Maria Letizia Verga will be the second charity to benefit”, said Andrea Cingoli, Chief Executive Officer of Banca Esperia. “This venture forms part of the philanthropy advisory services which Banca Esperia makes available to its clients and which take the form of three different areas of activity: governance of philanthropic projects, identification of social finance instruments, and developing impact investing instruments via private club deals to invest in philanthropic or social impact initiatives”.

    Last update: 20/10/2015 - 10:15