Eurizon SLJ Capital

What Eurizon SLJ Capital does

Eurizon SLJ Capital Limited is a London-based asset management boutique operating as a majority-owned subsidiary of Eurizon Capital SGR, the asset management division of Italy's Intesa Sanpaolo Group, with co-founders Stephen Jen and Fatih Yilmaz retaining a 15% equity stake. The firm applies proprietary macroeconomic analysis and quantitative modelling to global fixed income, currency and emerging markets investing, anchored by Stephen Jen and Fatih Yilmaz's 'Dollar Smile' hypothesis which frames the non-linear relationship between the US dollar and global risk conditions. Its technology stack is research- and process-led rather than software-led: a library of macro frameworks, recurring insight publications, a weekly podcast ('The Long & Short of the Week Ahead') and a quantitative modelling capability support discretionary portfolio management. The firm carries FCA authorisation (FRN 736926) and is headquartered at 90 Queen Street, London.

The product set spans two listed UCITS ETFs (CO Eurizon SLJ EM Equity Magnificent 30 UCITS ETF and CO Eurizon SLJ EM Bond Strategic Income UCITS ETF), four dedicated investment strategies (Local Emerging Markets Debt, Bond Aggregate RMB, Enhanced Currency and Global Macro), a subscription-based macro research service with a 3-month free trial, and an FX advisory service for institutional clients. Revenue is generated through management fees on investment mandates and ETFs, subscription fees for research products, and advisory fees for FX engagements, all directed at professional and institutional buyers. Customers explicitly cited include central banks, sovereign wealth funds, hedge funds and asset managers.

The firm was founded in 2011 as SLJ Macro Partners and rebranded in 2016 after joining the Eurizon Capital SGR platform. In November 2025 it broadened capacity by acquiring the investment mandates and talent of Fideuram Asset Management UK. Eurizon SLJ positions itself as a research-led, 'orthogonal' voice on macro and emerging markets policy, operating on the institutional governance, controls and distribution rails of its €408bn-AUM parent while preserving boutique-level portfolio autonomy.

Name

Eurizon SLJ Capital

Legal name

Eurizon SLJ Capital Limited

Website

https://eurizonsljcapital.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Eurizon SLJ Capital is a London-based, research-led asset management boutique (majority-owned by Eurizon Capital SGR / Intesa Sanpaolo) that runs macro, currency and emerging markets investment strategies, two UCITS ETFs, a subscription research service and FX advisory for institutional investors.

Ownership category

akta.pro rank

Product category

Institutional Asset Management

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Government Bonds & Agencies (Sovereigns, Supras, Munis) (FSAAAHAA)

Keywords

• Emerging markets investing
• Currency management
• Fixed income strategies
• Macroeconomic research
• Institutional asset management

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Investment Management Fees: Revenue generated from management fees on UCITS ETFs and investment strategies including Local Emerging Markets Debt, Bond Aggregate RMB, Enhanced Currency, and Global Macro strategies.
2. Research Services: Subscription-based research publications delivered to institutional investors, asset managers, and analysts. Free trials available with subscription follow-up.
3. Advisory Services: FX advisory services provided to institutional clients.

Distribution channels3 records

Marketing channels5 records

Core offering

Eurizon SLJ Capital is an active, research-led investment manager specializing in emerging markets, FX, and global macro strategies. The firm offers two UCITS ETFs (EM Equity Magnificent 30 and EM Bond Strategic Income), four investment strategies (Local Emerging Markets Debt, Bond Aggregate RMB, Enhanced Currency, and Global Macro), subscription-based macroeconomic research, and FX advisory services for professional and institutional investors.

Product overview

Eurizon SLJ Capital is an active research-led investment manager specializing in emerging markets and FX investing. The company offers a unified platform combining its core research capabilities with multiple investment products: two UCITS ETFs (CO Eurizon SLJ EM Equity Magnificent 30 UCITS ETF and CO Eurizon SLJ EM Bond Strategic Income UCITS ETF) and four investment strategies (Local Emerging Markets Debt, Bond Aggregate RMB, Enhanced Currency, and Global Macro). The firm is renowned for its proprietary 'Dollar Smile' macroeconomic framework created by founders Stephen Jen and Fatih Yilmaz. Research services include macro-economic analysis, quantitative modelling, FX advisory, and podcasts.

Differentiator

Problem solved

Functional benefit

Products and services

• CO Eurizon SLJ EM Equity Magnificent 30 UCITS ETF An actively managed UCITS ETF providing a focused approach to emerging markets equity selection, designed for institutional and professional investors.
• CO Eurizon SLJ EM Bond Strategic Income UCITS ETF A quality-enhanced UCITS ETF delivering an emerging markets income strategy, intended for institutional investors seeking EM bond exposure.
• Local Emerging Markets Debt Strategy A specialist investment strategy focused on local-currency emerging markets debt, offered to institutional clients.
• Bond Aggregate RMB Strategy An investment strategy focused on RMB-denominated bonds, designed for institutional investors seeking China fixed income exposure.
• Enhanced Currency Strategy A proprietary FX investment strategy leveraging deep emerging market insights, offered to institutional clients.
• Global Macro Strategy A multi-asset macro investment strategy combining top-down macroeconomic analysis, offered to institutional investors.
• Research Services Subscription-based macroeconomic research and quantitative modelling covering global economy, currency, and policy issues, targeted at institutional investors, asset managers, and analysts.
• Advisory Services FX advisory services delivered directly to institutional clients to support their currency and macro investment decisions.

Quantifiable outcome

• RMB bonds identified as best-performing major bond market in 2024 with 8.9% annual return on central government bonds

Named customers4 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

One partnership is on record.

• Fideuram Asset Management UKminorStrategic or Co-development PartnerIn November 2025, Eurizon SLJ Capital acquired the investment mandates and talent of Fideuram Asset Management UK, expanding the platform's investment capability and capacity.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Others

• BlackRock:

Direct peers

• Ashmore Group: Publicly listed specialist emerging markets asset manager with focused EM debt and equity strategies. Highly comparable to SLJ given similar EM debt specialization, institutional client base, and active management approach.
• TCW Group: US-based fixed income and EM debt manager. Comparable to SLJ on active EM fixed income management and institutional client focus.
• Payden & Rygel: Independent, employee-owned fixed income and currency manager. Comparable to SLJ on boutique scale, EM/global fixed income focus, and institutional client base.
• BlueBay Asset Management: Specialist fixed income and EM debt manager, part of RBC Global Asset Management. Directly comparable on EM debt strategies and institutional distribution to central banks and pensions.
• Neuberger Berman: Private, employee-owned asset manager with a sizable emerging markets debt franchise and macro capabilities. Comparable to SLJ on EM fixed income focus and institutional client orientation.
• Lazard Asset Management: Global asset manager with EM debt and currency strategies. Comparable to SLJ on institutional distribution and active macro investment approach.
• Western Asset Management: Specialist fixed income manager with significant global macro and EM debt capabilities. Comparable to SLJ on active fixed income management and macro research-driven investment process.

Broad incumbents

• Goldman Sachs Asset Management: Major global asset manager with significant fixed income, currency, and EM capabilities. Overlaps with SLJ's institutional product set but offers broader multi-asset solutions.
• PIMCO: One of the world's largest fixed income and macro asset managers. Overlaps with SLJ across EM debt, currency, and global macro strategies but operates at vastly larger scale and product breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 Eurizon SLJ Capital