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Investment Solutions    Investment process

Investment process

Our investment process follows a top-down approach starting from the analysis of macro economic indicators and the general political environment to evaluate their potential impact on the main financial markets.

The Generali Investments Pan-European Committee is the core of this process and is held on a quarterly basis. The committee decides on the strategic asset allocation and provides a short-term forecast on equity and fixed income markets.

Local investment committees will then translate the directives of the Pan-European Committee with the aim to provide guidelines to portfolio managers in order to support and to offer the flexibility to enhance performance through their security selection process.


The following table presents our integrated investment process:






Strategic asset allocation Tactical asset allocation      |      Security selection

Common approach  Integrated process

Definition of annual benchmarks with indication of asset classes weightings and variation ranges

 

Global process applied consistently to all portfolios


Definition of performance targets

Economic views and main market forecast provided by research team

 


Capital allocation linked to effective capital absorption at asset class and portfolio level

Strong support from portfolio officers, managers and the asset class team 

 


Definition of a given number of macro asset classes

Key Role of Group Investments Commitee (GIIC) in decision making process to develop common "Company view" for financial markets

 


Risk budget allocation

Final decision regarding the output and implementation guidelines of the Tactical Asset Allocation process lies with the Group CIO

 


Flexibility/freedom of portfolio managers to enhance performance through security selection

 



 

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