nt holding

What nt holding does

NT Capital SG S.p.A. is the first independent asset management company (Società di Gestione del Risparmio) authorized in the Republic of San Marino, operating under Central Bank authorization No. 70 dated December 30, 2008 and registered under No. 5647 in the San Marino Register of Companies. Founded on January 23, 2023 and headquartered in Dogana, San Marino, the firm provides investment management and financial advisory services to high-net-worth individuals and families (primary), institutional investors (banks, foundations, pension funds, insurance groups), entrepreneurial families, and domestic and international investors seeking San Marino and Italian-market exposure.

The company's product portfolio is split between Asset Management and Wealth Management. Under Asset Management, the firm offers two named investment funds — NT Dynamic (actively managed, designed to capture market opportunities) and NT Target Rendimento (a San Marino UCITS III flexible bond fund launched March 4, 2024, ISIN SM000A408UU2, targeting 3.5% return over 3 years) — alongside alternative funds and bespoke institutional mandates. Under Wealth Management, the firm provides financial consultancy, customized wealth management across five risk profiles (Monetary, Prudent, Moderata, Balanced, Dynamic), and asset protection with generational transfer planning, plus a complimentary Check-Up Finanziario portfolio review service. Research and instrument analysis capabilities are sourced via a partnership with Italian consultancy Consultique Scf Spa.

NT Capital SG generates revenue through recurring management fees on assets under management, wealth management advisory fees, and institutional mandate management fees. The firm operates a sales-led go-to-market supported by an event-driven marketing approach, leveraging direct advisory relationships through its Dogana office alongside an extensive media and thought-leadership presence via San Marino RTV, San Marino Fixing, Libertas.sm, Breakfast San Marino, and co-organized conferences with The European House Ambrosetti and San Marino Innovation. The firm reached approximately €30 million in AUM (including independent advisory assets) within its first year of operations and reported continued growth through 2025, with NT Dynamic winning Best Flexible Fund at the Diaman Awards 2025.

Name

nt holding

Legal name

NT Capital SG S.p.A.

Website

https://ntcapitalsg.sm

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

NT Capital SG is the first independent asset management company authorized in San Marino, providing investment funds, wealth advisory, and institutional mandates to high-net-worth individuals, families, and institutional clients across San Marino and Italy.

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

Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)

akta.pro secondary industry

Institutional Separate Accounts & SMAs (Mandates) (FSAAAGAL)

Keywords

• Independent asset management
• Wealth management advisory
• Institutional portfolio mandates
• Investment fund management
• Generational wealth planning

Headquarters

HQ city

Dogana (R.S.M.)

HQ country

San Marino

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Asset Management Fees: Management fees charged on investment fund assets under management, including NT Dynamic, NT Target Rendimento, alternative funds, and institutional mandates.
2. Wealth Management Advisory Fees: Fees for personalized financial advisory services including portfolio analysis, tactical and strategic asset allocation, wealth management mandates, and asset protection / generational transfer planning.
3. Institutional Mandate Management: Customized portfolio management for institutional clients including banks, foundations, pension funds, and insurance groups, charged on assets under mandate.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

NT Capital SG is an independent asset management company in San Marino that manages investment funds (NT Dynamic and NT Target Rendimento), alternative funds, and institutional mandates under Asset Management. It also provides Wealth Management services including personalized financial consultancy, customized portfolio management across five risk profiles, and asset protection with generational transfer planning. A complimentary Check-Up Finanziario portfolio review serves as the entry-level acquisition service.

Product overview

NT Capital SG offers a unified platform of financial services combining Asset Management and Wealth Management. The core offerings include two named investment funds (NT Dynamic and NT TARGET RENDIMENTO), alternative funds, and institutional mandates under Asset Management, alongside financial consultancy, wealth management (with five risk profiles: Monetary, Prudent, Moderata, Balanced, Dynamic), and asset protection with generational transfer services under Wealth Management. A complementary free Check-Up Finanziario service analyzes client portfolios. The company also provides independent financial research through its partnership with Consultique Scf Spa.

Differentiator

Problem solved

Functional benefit

Brands

• NT Dynamic: Investment fund managed by NT Capital SG.
• NT Target Rendimento

Products and services

• NT Dynamic An investment fund offered by NT Capital SG designed to capture the best opportunities available in the market, managed with active portfolio management approach. Awarded Best Flexible Fund at the Diaman Awards 2025 and recognized as a finalist among major international managers at the Diaman Awards 2026.
• NT Target Rendimento A San Marino UCITS III flexible bond fund (ISIN: SM000A408UU2) with Total Return management strategy, aiming to provide constant income and capital appreciation over a 4-year investment cycle with initial duration not exceeding 5 years. Targets a 3.5% return over 3 years.
• Fondi Alternativi (Alternative Funds) Alternative investment funds that generate value for investors and for the San Marino territory, providing diversified exposure beyond traditional fund offerings.
• Mandati Istituzionali (Institutional Mandates) Institutional mandates designed to address complex financial needs of banking institutions, foundations, pension funds, and insurance groups through customized portfolio management.
• Consulenza Finanziaria (Financial Consultancy) Financial consultancy service that provides precise analysis of client portfolios and investment objectives, resulting in tactical and strategic asset allocation proposals.
• Gestioni Patrimoniali (Wealth Management) Wealth management service protecting and enhancing client assets through customized solutions and partnerships. Offers five risk profiles: Monetary, Prudent, Moderata, Balanced, and Dynamic.
• Asset Protection e Passaggio Generazionale Service analyzing client financial and family situations to assess potential, critical issues, risks, and develop customized scenarios and solutions, with particular emphasis on generational shift management.
• Check-Up Finanziario Free portfolio check-up service that analyzes the composition, diversification, risk, and efficiency of client investments using dedicated software, providing useful indications to improve investment returns. No obligation required.

Quantifiable outcome

• €30 million in assets under management (direct and advisory) reached within first year of operations (2023–2024)
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• Breakfast San Marino (RTV San Marino)coreGTM or Marketing Partner · 25 March 2026NT Capital SG is a partner of 'Breakfast San Marino', a TV news programme on channel 550. The firm contributes the 'Finanza, Innovazione e Competenze' (Finance, Innovation and Skills) segment within the programme, featuring executive appearances for financial education and market commentary.
• Evolution Forum Day – San Marino EditionminorGTM or Marketing Partner · 19 May 2025NT Capital SG is a partner of the Evolution Forum Day – San Marino Edition, a business formation and inspiration event bringing together over 200 entrepreneurs, managers, and professionals to build a shared vision for San Marino's economic future.
• Cfe Finance GroupminorStrategic or Co-development Partner · 11 April 2025Cfe Finance Group co-organized the fourth NT Capital conference on real economy and finance alongside NT Capital SG, The European House Ambrosetti, and RiverRock.
• RiverRockminorStrategic or Co-development Partner · 11 April 2025RiverRock co-organized the fourth NT Capital conference on real economy and finance alongside NT Capital SG, The European House Ambrosetti, and Cfe Finance Group.
• San Marino FixingcoreGTM or Marketing Partner · 1 March 2024San Marino Fixing is an online media outlet hosting the 'Ora Finanza' column featuring NT Capital SG's President of the Investment Committee Luca Zanata and Director General Cristian Ceccoli. The column provides regular market commentary and financial education content.
• Nuove Idee Nuove ImpreseminorGTM or Marketing Partner · 5 October 2023NT Capital SG is a project partner of Nuove Idee Nuove Imprese, an association for entrepreneurial innovation and business plan competition active for over 20 years. The partnership supports the creation and development of innovative and technologically advanced startups with a focus on sustainable investments (ESG).
• The European House AmbrosetticoreStrategic or Co-development Partner · 28 September 2023NT Capital SG co-organizes public conferences with The European House Ambrosetti, a leading Italian think tank and strategic consulting firm. Events have covered topics such as financial education, governance, generational continuity, and extraordinary finance for business development.
• San Marino InnovationminorStrategic or Co-development Partner · 28 September 2023San Marino Innovation is a local innovation ecosystem partner collaborating with NT Capital SG on conferences and events focused on innovation, finance, and territorial competitiveness.
• Libertas.smcoreGTM or Marketing Partner · 30 June 2023Collaboration with Libertas.sm on the 'Educazione Finanziaria' (Financial Education) column. Libertas.sm is a San Marino news outlet that publishes financial education content featuring NT Capital SG's expertise, expanding the firm's reach to the general public.
• Consultique Scf SpacoreStrategic or Co-development Partner · 9 March 2023NT Capital SG uses the independent financial research of Consultique's Research Office. Consultique is an Italian independent financial consultancy company operating in the sector for over 20 years and is considered a reference point in the industry. This partnership provides NT Capital SG and its clients with in-depth information and analysis on investment opportunities.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Azimut Holding: Italian asset management group operating a multi-affiliate SGR and wealth advisory model. Directly comparable to NT Capital SG's combined asset management + wealth advisory structure and recurring AUM-based fee model, though at much larger scale.
• Anima SGR: Independent Italian asset management company managing open-end mutual funds, institutional mandates, and wealth management solutions. Closely mirrors NT Capital SG's fund-plus-mandate product set in the Italian/San Marino corridor.
• Arca Fondi SGR: Italian SGR distributing open-end bond and flexible funds through Italian bank networks. Comparable product mix (flexible bond / total return funds) to NT Capital SG's NT Dynamic and NT Target Rendimento offerings.

Broad incumbents

• Eurizon Capital: Italy's largest asset manager (Intesa Sanpaolo group) managing open-end funds, institutional mandates, and wealth solutions. Overlaps with NT Capital SG across fund categories and Italian institutional distribution, but operates as a broad incumbent.
• Amundi: European asset management leader offering active and passive funds plus institutional mandates. Comparable active fund capability (e.g., flexible bond strategies) and institutional mandate business, but at global scale.
• BlackRock: Global asset manager with institutional separate accounts and mutual fund capabilities. Comparable across institutional mandates and open-end fund categories that NT Capital SG serves, though at much larger scale and broader scope.
• Schroders: Global asset and wealth manager with active funds, multi-asset solutions, and institutional mandates. Overlaps with NT Capital SG's active management philosophy across flexible and total return strategies.
• Banca Mediolanum: Italian banking group with integrated asset management, wealth advisory, and bancassurance. Comparable full-stack offering to NT Capital SG, but with deposit-taking banking capability and nationwide distribution NT lacks.
• Allianz Global Investors: Global active asset manager offering fixed income, multi-asset, and alternative funds plus institutional mandates. Comparable active fixed income / total return capability to NT Target Rendimento and NT Dynamic.

Others

• Consultique Scf Spa: Italian independent financial research firm providing equity and credit research for over 20 years. Listed as NT Capital SG's research partner; an adjacent ecosystem participant rather than a competitor, but a useful comparable for the independent research layer that supports NT's investment process.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nth-rsm

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 nt holding