Pioneer Investments Italy unveiled a new closed-ended fund which will invest in mini-bonds to support the country’s SMEs recovery.
Dubbed as Progetto Italia, the new fund will invest primarily in Pioneer Project bonds issued by small and medium-sized Italian companies with a turnover of between 10m and 100m. They should also have a minimum rating of B- at the time of the investment.
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With a duration of five years, the fund will offer annual dividends with maximum fixed assets not exceeding 200 million.
The fund will mainly focus on companies that have well-established competitive positions, credible plans for growth, positive economic and financial parameters, and potential interests to finance further expansion, including global markets.
Cinzia Tagliabue, CEO at Pioneer Investments Italy, said: "Progetto Italia is aimed at supporting Italy’s economic recovery by improving the intermediary channel between the asset management industry and Italian SMEs.
"Drawing from Pioneer Investments’ international experience in direct lending and from the local strength of our Italian partner UniCredit, we aim at boosting excellence among Italy’s SMEs," he added.
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By GlobalDataPioneer Investments has partnered with Eidos Partners, an independent advisor specializing in corporate finance transactions, to select the SMEs.
