Borsa Italiana

29 November 2023

Two proposals

Borsa Italiana, Made in Italy Fund

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The wide gap that has opened between Italian large and small caps since the second half of 2022 has taken an increasingly heavy toll on our absolute and relative performance. Remember that most funds in the Italian equity universe are benchmarked against the MIB index and that even Ordinary PIR funds are preponderantly invested in […]

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19 February 2021

The great opportunity of Alternative PIRs

Borsa Italiana, Made in Italy Fund

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In 2021 Italian savers have at their disposal an extremely cost-effective investment tool: Alternative PIRs (Piani Individuali di Risparmio – Individual Savings Plans). Like the original PIRs launched in 2017, Alternative PIRs enjoy a significant tax advantage: exemption from capital gains tax after a 5-year holding period. Both also have zero inheritance tax. The substantial […]

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31 August 2016

Why so few?

Borsa Italiana, Made in Italy Fund

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It is known in finance as the equity home bias puzzle: investors’ preference for domestic equities and their consequent portfolio overweight compared to the precepts of standard theory. Not in Italy. While laden with domestic government bonds, Italian investors have no penchant for domestic equities. They don’t think of equities as domestic vs. foreign: Italian […]

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