European independent asset manager Azimut Holding has agreed to a distribution deal with Italian bank UniCredit that could be eventually extended to the Middle East.
The agreement will initially cover the asset manager’s products in Italy.
However, the firm has stated that similar partnerships could be struck in regions where the company has a “significant local asset management presence”, such as the Middle East.
“The investment management industry in the Middle East is set to undergo significant challenges and growth in line with the long-term strategies of regional governments to diversify their economies and bolster their financial markets,” said Maroun Jalkh, chief executive of Azimut Middle East.
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