ANIMA

What ANIMA does

ANIMA Holding S.p.A. is an Italian asset management group founded in 1983 and headquartered in Milan. The company offers a comprehensive platform of investment products spanning mutual funds (Fondi Comuni), open pension funds (Arti & Mestieri), discretionary portfolio management (Gestioni Patrimoniali), and institutional investment solutions. Its product suite extends into alternative investments through wholly owned subsidiary Anima Alternative (private markets), Castello SGR (real estate, 80% acquired 2023 for €60M), and Kairos Partners SGR (wealth management boutique, acquired May 2024). The group serves Italian retail investors, high net worth individuals, and institutional clients including pension funds, insurance companies, banking foundations, and social security entities (enti e casse di previdenza).

ANIMA distributes products through a network of over 90 banking and financial advisory partners across Italy, providing access to thousands of bank branches and financial advisors. The technology stack includes a proprietary sustainability algorithm and ESG dashboard for portfolio monitoring, integrating ESG ratings from Refinitiv, Morningstar-Sustainalytics, S&P Global, MSCI, and Standard Ethics. ANIMA has been a signatory of the UN Principles for Responsible Investment since 2018 and joined the UN Global Compact in December 2021.

The business model is based on recurring asset management fees calculated as a percentage of assets under management across mutual funds, pension funds, alternative investments, and institutional mandates. In April 2025, following a voluntary public tender offer (OPA) by Banco BPM Vita S.p.A., ANIMA Holding became part of the Banco BPM Group and was delisted from Euronext Milan, now operating under the direction and coordination of Banco BPM S.p.A. Analyst consensus places 2025E revenue at approximately €475.5 million with net profit of €231.8 million; ANIMA contributed €141 million in fees to Banco BPM in the first reporting period following the acquisition.

Name

ANIMA

Legal name

Anima Holding S.p.A.

Website

https://animasgr.it

Company type

Public

Founded year

1983

Operating status

Acquired

Headcount range

501–1,000 employees

Short description

ANIMA Holding S.p.A. is an Italian asset management group offering mutual funds, pension funds, wealth management, and alternative investments through 90+ distribution partners. Founded in 1983, it became part of Banco BPM Group in April 2025.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

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

SIC

Investment Advice (6282)

akta.pro primary industry

Investment Management Advisory (RIA) (FSAEAAAB)

akta.pro secondary industries

Managed Accounts & Unified Managed Accounts (UMAs) — Multi-Asset (FSAAAJAE), Managed Platforms & Wrap Programs for Private Clients (Model Portfolios, UMA/SMAs) (FSAAABAM), OCIO & Multi-Asset Outsourced Portfolio Management (FSAAAJAF)

Keywords

• Asset management
• Mutual funds
• Pension funds
• Wealth management
• ESG investing

Headquarters

HQ city

Milano

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Asset Management Fees: Management fees from mutual funds, pension funds, alternative investments, and institutional mandates. The company manages diverse products including common funds, pension funds (Arti & Mestieri), wealth management portfolios, and alternative investments (via Castello SGR and Anima Alternative).

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

ANIMA is an Italian asset management group that manages and distributes mutual funds, discretionary portfolio management solutions, an open pension fund (Arti & Mestieri), and institutional mandates, complemented by alternative investment capabilities through subsidiaries Castello SGR (real estate) and Anima Alternative (private markets), as well as wealth management via acquired boutique Kairos Partners. Products are distributed through over 90 banking and financial advisory partners across Italy and serve both retail and institutional clients.

Product overview

ANIMA is an Italian asset management group offering a comprehensive platform of investment products and services. The core offering consists of mutual funds (Fondi Comuni), discretionary portfolio management (Gestioni Patrimoniali), institutional investment solutions, and the open pension fund Arti & Mestieri. The group has expanded into alternative investments through subsidiaries Anima Alternative (with funds Alternative 1, 2, and Growth) and acquired entities Castello SGR (real estate specialist) and Kairos Partners Sgr (wealth management boutique). The product lineup includes specialized thematic funds such as Anima AI e Robotica, Anima Net Zero Azionario, PIR (Italian savings plans), and systematic investment plans like Anima Primopasso PAC. All products are distributed through over 90 banking and financial advisory partners across Italy.

Differentiator

Problem solved

Functional benefit

Brands

• Arti & Mestieri: Open pension fund offering supplementary pension coverage with 5 compartments differentiated by investment composition
• Anima Alternative
• Castello SGR
• Kairos Partners Sgr

Quantifiable outcome

• 13 consecutive years of recognition as Top Gestore PIR Italia by German Institute Quality and Finance
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature2 records

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• Kairos Partners SGRcoreStrategic or Co-development Partner · 2 May 2024ANIMA completed the acquisition of Kairos Partners SGR in May 2024, a boutique excellence in Asset and Wealth Management. Kairos is part of the ESG initiatives including Forum per la Finanza Sostenibile membership since 2021.
• Castello SGR S.p.A.coreStrategic or Co-development Partner · 27 February 2023ANIMA acquired 80% of Castello SGR (leader in alternative investments, predominantly real estate) for €60 million in February 2023. Oaktree Capital Management reduced its stake from 82% to 20%. Castello SGR specializes in alternative investments and asset management in Italy.
• Anima Alternative SGRcoreStrategic or Co-development Partner · 1 January 2020Founded in early 2020, Anima Alternative is a 100% controlled company of ANIMA Group focused on private market investments. Launched three alternative funds in first four years: Anima Alternative 1, Anima Alternative 2, and Anima Alternative Growth.
• Aletti Gestielle SGRmajorStrategic or Co-development Partner · 1 November 2017ANIMA completed the purchase of 100% of Aletti Gestielle SGR from Banco BPM in 2017, which was incorporated into ANIMA SGR from December 1, 2018.
• BancoPosta Fondi SGR / Poste ItalianemajorStrategic or Co-development Partner · 1 July 2015Industrial collaboration agreement in retail asset management signed in July 2015. Poste Italiane acquired 10.3% of ANIMA Holding from Banca Mps in June 2015. In 2017-2018, partial spin-off of insurance asset management activities (over €70 billion) to ANIMA SGR was completed.
• United Nations Principles for Responsible Investment (UN PRI)majorStrategic or Co-development PartnerANIMA SGR signed the UN PRI in 2018 and commits to incorporating ESG aspects into investment analysis and decision-making processes, acting as an active shareholder integrating ESG considerations into voting policies.
• Global Compact delle Nazioni UnitemajorStrategic or Co-development PartnerANIMA joined the UN Global Compact (December 2021), the world's largest corporate sustainability initiative promoting 10 principles on human rights, labor, environment, and anti-corruption, and the 17 Sustainable Development Goals.
• Forum per la Finanza SostenibilemajorStrategic or Co-development PartnerANIMA SGR (since 2023) and Kairos (since 2021) are ordinary members of the Forum per la Finanza Sostenibile, a non-profit association promoting sustainable and responsible investment in Italy.
• FAIRR (Farm Animal Investment Risk & Return)minorStrategic or Co-development PartnerANIMA SGR joined FAIRR (since 2023), an investor network committed to raising market awareness about ESG risks and opportunities in the food sector related to intensive farming.
• Investor Alliance for Human Rights (ICCR)minorStrategic or Co-development PartnerANIMA is a member of the Investor Alliance for Human Rights, a non-profit initiative focused on investor responsibility to respect human rights and promote responsible business practices through engagement and statements.
• Valore DminorStrategic or Co-development PartnerSince 2024, ANIMA is associated with Valore D, Italy's first business association promoting gender balance and inclusive culture through collaboration among member companies.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Eurizon Capital (Eurizon SGR): Italian asset manager wholly owned by Intesa Sanpaolo, ANIMA's most direct domestic competitor in mutual funds, pension funds, and institutional mandates. Mirrors ANIMA's bank-owned, distribution-led model and competes head-to-head for the same retail and institutional Italian client base via Intesa Sanpaolo's branch network.
• Azimut Holding: Major Italian asset management and wealth management group with a strong mutual fund and discretionary portfolio management business distributed through financial advisors. Closely comparable to ANIMA in target customer (retail and HNW Italian savers), product mix (UCITS funds, structured products, advisory), and distribution model (advisor-led placement).
• Amundi: Europe's largest asset manager (€2T+ AUM) and the most direct comparable peer to ANIMA across mutual funds, ETF, institutional mandates, and ESG integration. While Amundi operates at substantially greater scale and geographic scope, its product mix, distribution, and ESG proposition (including proprietary ESG ratings and tools) directly compete with ANIMA in the Italian retail and institutional segments.
• Banca Mediolanum (Mediolanum Gestione Fondi): Italian bank-owned asset manager competing with ANIMA in mutual funds and discretionary wealth management distributed through a tied-network of financial advisors. Comparable in business model (bank-affiliated SGR), product focus (managed portfolios), and target segment (Italian retail and affluent savers).
• FinecoBank Asset Management: Italian bank-affiliated asset management subsidiary of FinecoBank, focused on multi-brand mutual funds and managed portfolios distributed through Fineco's online advisory platform. Comparable to ANIMA in target retail Italian investor, fund-of-funds and multi-asset product design, and reliance on a single dominant Italian distribution channel.
• Mediobanca SGR / Mediobanca Wealth Management: Italian private banking and asset management group providing mutual funds, discretionary portfolio management, and wealth advisory services for HNW/UHNW clients. Overlaps with ANIMA's wealth management and institutional segments, particularly relevant given ANIMA's Kairos acquisition expansion into HNW/boutique wealth.

Broad incumbents

• Generali Investments: Asset management arm of Generali Group, one of Europe's largest insurance-affiliated investment managers. Comparable to ANIMA in offering mutual funds, multi-asset institutional mandates, ESG solutions, and serving insurance balance-sheet asset allocation, but operates as part of an insurance group's broader portfolio rather than as a pure-play Italian SGR.
• BlackRock: Global asset management incumbent with significant iShares ETF franchise and Aladdin technology platform; competes with ANIMA in the institutional and retail asset management space, particularly in equity, multi-asset, and ESG products. Less direct overlap in Italian retail distribution but a relevant peer for product, technology, and ESG positioning.
• Schroders: Global active asset manager with strong multi-asset and institutional capabilities, competing with ANIMA for Italian and European institutional mandates. Comparable on ESG integration depth and institutional segregated-account product structure, though substantially larger and more international in scope.

Regional players

• BancoPosta Fondi SGR (Poste Italiane Group): Italian asset manager wholly owned by Poste Italiane and ANIMA's historical distribution partner. Both firms manage Italian retail mutual funds and pension savings (notably PIP products). Closely comparable in product and target segment but anchored to Poste's distinctive postal/branch distribution channel rather than competing directly across ANIMA's broader bank-advisor network.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/anima_sgr
• YouTubeyoutube.com/user/AnimaSgr
• Facebookfacebook.com/animasgr
• LinkedInlinkedin.com/company/anima-sgr
• Instagraminstagram.com/anima.sgr

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A2 records

Investments1 record

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

Frequently asked questions about ANIMA