Mediolanum International Funds has formed equity subadviser partnerships with three money managers, which will in turn see the firm distribute strategies in Europe.
A spokesman for Mediolanum confirmed that more than €1.1 billion ($1.3 billion) in equity assets will be managed by Intermede Investment Partners, RWC Partners and Cadence Investment Partners through the new relationships.
London-based Intermede will manage €700 million in its global equity strategy under the subadviser agreement. The firm has a total $9 billion in assets under management, a spokesman for Intermede said.
London-based RWC will run about €300 million in assets under the subadviser agreement, made up of a €240 million seed investment in the new global equity income strategy and €60 million in an emerging markets strategy. RWC manages €20 billion in assets.
Mediolanum also allocated €130 million to Edinburgh-based Cadence's flagship Asia strategy. The firm has €365 million in assets under management.
In turn, Intermede, RWC and Cadence will use Mediolanum's distribution platform in Germany, Italy and Spain to distribute their strategies. The partnerships boost Mediolanum's multimanager structure. The distribution deal is not exclusive so the strategies may also be distributed elsewhere, the Mediolanum spokesman added.
"All three new partners are highly specialized players with exceptional track records," said Furio Pietribiasi, CEO of Mediolanum International Funds, in a news release. "This is the result of the extensive work of our experienced and capable research team, which allows us to bring some brand new talent and capabilities to our clients, which might not be accessible otherwise."
Mediolanum has €47 billion in assets under management.