Mediobanca SGR

What Mediobanca SGR does

Mediobanca SGR S.p.A. is the Italian asset management subsidiary (Società di Gestione del Risparmio) of the Mediobanca Group, headquartered at Foro Buonaparte 10 in Milan. The firm offers a comprehensive product shelf spanning 50+ open-end mutual funds across equity, fixed income, flexible, multi-asset, target-maturity, and balanced categories; closed-end funds including the Mediobanca BlackRock Co-investments vehicle; four Mediobanca Sicav compartments; three discretionary portfolio management lines (Systematic, Dynamic, Pure); and dedicated segregated mandate solutions for institutional clients. Portfolio management is heavily delegated to ten specialized global asset managers — MFS, Fidelity, Schroders, Candriam, DWS, Morgan Stanley, Nordea, AllianceBernstein, Rothschild, and BlackRock — with Mediobanca SGR retaining distribution oversight, product structuring, and centralized ESG governance.

The firm serves three primary customer segments: retail investors accessing open-end funds through Italian bank distribution networks and professional advisors; institutional investors including Italian pension funds (Negoziali and Preesistenti), insurance companies, and welfare/casse previdenziali institutions served through direct institutional sales; and professional investors accessing closed-end funds and international co-investment opportunities. The business model is recurring AUM-based management fees, with no publicly disclosed pricing; fees are negotiated bilaterally for institutional mandates and applied per fund/share class for retail products. Revenue is concentrated in Italy (with formal exclusion of US Persons under Regulation S), though end-investor exposure is internationalized through delegated global managers and the BlackRock co-investment structure.

Sustainability is the firm's primary differentiator. Twenty or more funds carry SFDR Article 8 or Article 9 classifications, and the firm operates a proprietary 0–5 sustainability risk scoring methodology, a combined negative/positive ESG screening framework, and a Principal Adverse Impact monitoring system aligned with SFDR reporting. The firm is a signatory of UN PRI (since September 2019), UN Global Compact, and CDP, and the Mediobanca Social Philanthropy fund directs over €200,000 annually to charitable causes including Cometa, Humanitas per la Ricerca, and San Patrignano. Leadership is headed by Emilio Franco as CEO and CIO. No revenue, AUM, headcount growth, funding, M&A, or AI/ML capability data is publicly disclosed, limiting the depth of performance assessment.

Name

Mediobanca SGR

Legal name

Mediobanca SGR S.p.A.

Website

https://mediobancasgr.com

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

11–50 employees

Short description

Mediobanca SGR is the Italian asset management subsidiary of Mediobanca Group, offering 50+ mutual funds, closed-end funds, segregated mandates, and Sicav compartments with strong ESG focus, serving retail investors via Italian bank networks and institutional clients including pension funds, insurance companies, and welfare institutions.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

akta.pro primary industry

Endowment / OCIO-Style Multi-Manager Platforms (FSANAGAG)

akta.pro secondary industry

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

Keywords

• Asset management services
• Mutual fund products
• ESG investment solutions
• Institutional portfolio management
• Wealth management products

Headquarters

HQ city

Milano

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Mutual Fund Management Fees: Mediobanca SGR generates revenue through management fees charged on open-ended mutual funds (fondi mobiliari aperti), closed-ended funds (fondi chiusi), and delegated portfolio management mandates. Fee structures vary by fund type and share class, with target-maturity funds offering coupon distributions.
2. Segregated Portfolio Management Mandates: Revenue from managing segregated mandates for institutional clients including pension funds, insurance companies, and welfare institutions, with fees based on assets under management.
3. ESG Integration Services: Incorporation of ESG criteria into investment processes generates value through differentiated product offerings (Article 8 and Article 9 SFDR products) that command premium positioning.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Mediobanca SGR is the asset management subsidiary of Mediobanca Group, managing open-end mutual funds (equity, fixed income, flexible, multi-asset, balanced, target-maturity), closed-end alternative funds, Sicav compartments, and segregated institutional mandates for pension funds, insurance companies, and welfare institutions. The firm distributes through Italian bank networks and professional advisors while offering dedicated institutional mandate management, with ESG criteria integrated across the full product range including SFDR Article 8 and Article 9 classifications.

Product overview

Mediobanca SGR is an Italian asset management company (Società di Gestione del Risparmio) offering a comprehensive range of investment products. The portfolio comprises over 50 open-end funds across equity (Mediobanca European Equity, Mediobanca US Equity, Mediobanca Fidelity World Fund, etc.), bond (Mediobanca Candriam Global High Yield, Mediobanca ESG Credit Opportunities series), flexible (Mediobanca DWS Concept K., Mediobanca R-Co Valor), multi-asset (Mediobanca Global Multiasset series with 15/30/35/60 allocations, Mediobanca Selezione Cedola series), balanced (Mediobanca Social Philanthropy), and target maturity formats (various Credit Opportunities and Cedola funds through 2030). Additional offerings include delegated Sicav compartments (Euro Rates Total Return, Systematic Diversification, Euro Equities, Private Equity Strategies), closed-end funds (Mediobanca BlackRock Co-investments, Mediobanca Fondo per le Imprese), and institutional portfolio management solutions (Segregated Mandates, Systematic/Dynamic/Pure Lines). Management is delegated to specialized external managers including MFS Investment Management, Candriam, Schroders, Fidelity, Nordea, Morgan Stanley, BlackRock, DWS, and Rothschild. All products integrate ESG criteria with traditional financial analysis, with many qualifying under SFDR Article 8 or 9.

Differentiator

Problem solved

Functional benefit

Products and services

• Mediobanca AllianceBernstein American Growth Portfolio Open-end equity fund investing primarily in US equities, managed with an American Growth strategy. For Italian retail and professional investors seeking US equity exposure.
• Mediobanca European Equity European equity fund aiming to grow invested capital while integrating ESG (environmental, social, governance) factors alongside traditional financial criteria.
• Mediobanca Fidelity World Fund Global equity fund with management delegated to Fidelity Luxembourg SA, employing a bottom-up fundamental strategy to identify companies undervalued by the market.
• Mediobanca Global Thematic Multimanager 100 Thematic ESG multi-manager fund of funds that identifies long-term structural trends (demographic, environmental, technological innovation) to generate investment value.
• Mediobanca MFS Prudent Capital Italian-domiciled multi-asset flexible fund prioritizing loss containment over returns maximization. Promotes environmental and social characteristics under Article 8 SFDR.
• Mediobanca MFS Prudent Capital Euro Hedged Italian-domiciled multi-asset flexible fund with systematic currency exposure control to return USD strategy results to EUR. Promotes environmental and social characteristics under Article 8 SFDR.
• Mediobanca Italian Equity All Cap (formerly Mid&Small Cap Italy) Italian equity fund investing across all capitalisation segments of the Italian market (formerly known as Mid&Small Cap Italy).
• Mediobanca Nordea World Climate Engagement Equity fund investing in companies aligned with Paris Agreement goals, focusing on five engagement themes: greenhouse gas emissions, energy management, water and waste management, natural resource management, and sustainable business models.
• Mediobanca US Equity US equity fund investing in instruments listed on US regulated markets or issued by US companies, considering ESG sustainability factors alongside traditional financial analysis.
• Mediobanca R-Co Valor Flexible multi-asset actively managed fund with management delegated to Rothschild & Co (R-Co), seeking medium-term capital growth through active allocation across different asset classes.
• Mediobanca Candriam Global High Yield International high yield bond fund with active management delegated to Candriam, employing thorough financial analysis and high-conviction active style.
• Mediobanca DWS Concept K. Flexible fund that can concentrate investments in a single asset class, promoting environmental and social characteristics related to climate change, corporate governance, and social norms under Article 8 SFDR.
• Mediobanca Schroder Diversified Income Bond Flexible bond fund managed by Schroders Investment Management Europe S.A., considering ESG factors alongside traditional financial analysis.
• Mediobanca ESG Credit Opportunities 2026 Flexible bond target maturity fund with 3.5-year investment horizon, integrating ESG criteria and excluding issuers in defined exclusion criteria.
• Mediobanca ESG Credit Opportunities 2027 Flexible bond target maturity fund with 4.5-year investment horizon from end of Subscription Period, distributing annual coupons.
• Mediobanca ESG Credit Opportunities 2029 Flexible bond target maturity fund with 5.5-year investment horizon, integrating ESG criteria in portfolio management.
• Mediobanca ESG Credit Opportunities 2030 Flexible bond fund with 5-year investment horizon from end of Subscription Period, integrating ESG criteria and committed to minimum sustainable investments under SFDR.
• Mediobanca Morgan Stanley Step In Global Balanced Allocation Fund of funds multi-asset fund investing in UCITS units exposing globally to financial markets, integrating ESG criteria and primarily investing in Article 8 and 9 SFDR funds.
• Mediobanca Selezione Cedola 2030 Flexible bond fund with 5-year investment horizon from end of Subscription Period, distributing semi-annual coupons.
• Mediobanca Selezione Cedola Italia 2029 Multi-asset fund with 2029 maturity focusing on Italian bonds with broad diversification across sectors, bond types, and ratings.
• Mediobanca Social Philanthropy Balanced bond fund allowing subscribers to donate part of fund assets to selected charitable organizations, investing in bonds while considering ESG factors.
• Mediobanca BlackRock Co-investments Multi-compartment closed-end fund reserved for professional investors, providing privileged access to international co-investment opportunities in partnership with BlackRock.
• Gestioni in Delega - Linee Systematic Discretionary portfolio management lines combining traditional, alternative, and risk reduction strategies with medium-term capital growth objective. For institutional clients.
• Gestioni in Delega - Linee Dynamic Discretionary portfolio management lines focused on absolute return with dynamic exposure to financial instruments. For institutional clients.
• Gestioni in Delega - Linee Pure Discretionary portfolio management asset class lines replicating specific asset classes. For institutional clients.
• Soluzioni Istituzionali (Institutional Solutions) Dedicated segregated mandate management for institutional investors, with focus on pension savings management for Pension Funds and Insurance Funds.
• Mediobanca Sicav - Mediobanca Euro Rates Total Return Bond Sicav compartment investing primarily in Investment Grade corporate issuances (minimum BBB- rating), at fixed and/or floating rates.
• Mediobanca Sicav - Mediobanca Systematic Diversification Controlled volatility flexible Sicav compartment investing in equity and bond markets.
• Mediobanca Sicav - Mediobanca Euro Equities Pure equity Sicav compartment specialized in the Euro area.
• Mediobanca Sicav - Mediobanca Private Equity Strategies International equity Sicav compartment investing in major listed Private Equity and Venture Capital companies.

Quantifiable outcome

• Carbon footprint reduction tracked through PAI indicators with qualitative improvement targets set for 2023-2025 period
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered core and flagship.

• UN PRI (Principles for Responsible Investment)coreStrategic or Co-development Partner · 1 September 2019Mediobanca SGR has been a signatory of UN PRI since September 2019. The partnership commits the company to incorporating ESG factors into investment analysis and decision-making, active ownership practices, and reporting on progress in applying the six PRI principles for responsible investment.
• UN Global CompactcoreStrategic or Co-development PartnerMediobanca SGR adheres to the UN Global Compact initiative, committing to ten principles covering human rights, labor standards, environmental protection, and anti-corruption. The partnership guides the company's sustainable investment approach and corporate responsibility practices.
• CDP (Carbon Disclosure Project)coreStrategic or Co-development PartnerMediobanca SGR participates in CDP, an international non-profit organization providing environmental disclosure systems. The partnership supports the company's climate reporting and engagement activities with portfolio companies on environmental performance.
• BlackRockflagshipStrategic or Co-development PartnerMediobanca SGR and BlackRock collaborate on the Mediobanca BlackRock Co-investments fund, the first international co-investment initiative dedicated to Italian investors. This partnership provides access to global private equity co-investment opportunities through a master fund structure.
• MFS Investment ManagementcoreTechnology or IntegrationInvestment management delegated to MFS for Mediobanca MFS Prudent Capital and Mediobanca MFS Prudent Capital Euro Hedged funds. MFS provides multi-asset investment strategies with ESG integration focusing on risk mitigation and capital preservation.
• Fidelity Luxembourg SAcoreTechnology or IntegrationFund management delegated to Fidelity for the Mediobanca Fidelity World Fund. Fidelity provides global equity strategies with bottom-up fundamental analysis integrated with ESG criteria.
• Schroders Investment Management Europe S.A.coreTechnology or IntegrationInvestment management delegated to Schroders for Mediobanca Schroder Diversified Income Bond. Schroders provides flexible bond strategies with FinTech ESG integration and Principal Adverse Impact consideration.
• CandriamcoreTechnology or IntegrationFund management delegated to Candriam for Mediobanca Candriam Global High Yield. Candriam provides international high yield bond strategies with active management and conviction-based security selection.
• DWScoreTechnology or IntegrationInvestment management delegated to DWS for Mediobanca DWS Concept K. DWS provides flexible multi-asset strategies with ESG screening including negative exclusion criteria for controversial sectors and governance norms.
• Morgan StanleycoreTechnology or IntegrationFund management delegated to Morgan Stanley for Mediobanca Morgan Stanley Step In Global Balanced Allocation. Morgan Stanley provides multi-asset fund-of-funds strategies with progressive equity allocation and ESG integration.
• NordeacoreTechnology or IntegrationInvestment management delegated to Nordea for Mediobanca Nordea World Climate Engagement. Nordea provides equity strategies focused on climate transition and Paris Agreement alignment with active engagement on five climate themes.
• AllianceBernsteincoreTechnology or IntegrationInvestment management delegated to AllianceBernstein for Mediobanca AllianceBernstein American Growth Portfolio. AllianceBernstein provides US equity strategies for the Italian market.
• Rothschild & Co (R-Co)coreTechnology or IntegrationInvestment management delegated to Rothschild & Co for Mediobanca R-Co Valor. Rothschild provides flexible multi-asset strategies with active allocation across asset classes integrating ESG analysis and SDG alignment.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Eurizon Capital: Italian asset management subsidiary of Intesa Sanpaolo, the closest direct peer to Mediobanca SGR in scale, product mix, banking-group ownership structure, and Italian institutional/retail distribution.
• Anima Holding: Leading Italian pure-play asset manager with a multi-channel distribution model across retail, private banking, and institutional clients — directly comparable in domestic market positioning and product breadth.
• Candriam: European specialist asset manager (Conviction Asset Management) delegated on the Mediobanca Candriam Global High Yield fund; highly comparable in ESG integration depth and European credit product overlap.

Broad incumbents

• Amundi: Europe's largest asset manager with extensive Italian presence through its own funds and the former Pioneer Investments franchise; competes with Mediobanca SGR across multi-asset, fixed income, and ESG product categories.
• Schroders: Global asset manager with a deep Italian footprint and a Flagship delegated partner to Mediobanca SGR on the Schroder Diversified Income Bond; competes directly in the Italian flexible-bond segment.
• Fidelity International: Global equity-led asset manager delegated to manage Mediobanca Fidelity World Fund; comparable in global-equity product positioning and ESG integration approach for Italian retail and advisor channels.
• DWS Group: Global asset manager (Deutsche Bank subsidiary) delegated to manage Mediobanca DWS Concept K; comparable in flexible multi-asset product design and European retail distribution.
• Morgan Stanley Investment Management: Global asset manager delegated to manage Mediobanca Morgan Stanley Step In Global Balanced Allocation; comparable in fund-of-funds multi-asset construction and global manager-of-manager offerings.

Others

• BlackRock:

Regional players

• Nordea Asset Management: Nordic-headquartered European asset manager delegated to manage Mediobanca Nordea World Climate Engagement; closely comparable in Article 9 SFDR thematic product design and active engagement framework.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mediobanca SGR