I understand. Hide this message.

X

We use cookies to provide you with the best experience when using our website. By continuing to use our website without changing your cookie settings, we assume you give consent for cookies to be used. For further details, including how you can amend your preferences - Please read our Cookie Policy. »

Perspectives

Italian Referendum: It's a "No"

 

Italy has voted “no” to the proposed changes in 4 December’s Constitutional Referendum, rejecting an essential part of Prime Minister Renzi’s project connected to the electoral reform. This outcome will bring, in our view, a phase of relative uncertainty, with Renzi’s resignation announced last night and the possible formation of a technical government to renegotiate the electoral law and re-boost the reform momentum. Early elections do not seem the most likely scenario at the moment, as parties have strong incentives to form a coalition and complete the electoral law before the country goes to the polls once again. Overall, we expect that political and economic stability in Italy will be preserved, in the medium term, but in the short term a new phase of volatility will likely open up.

Cio Letter

The Era of Investment Solutions


The long-term trends that have underpinned bull markets over the last twenty years no longer exist and investors will have to deal with unprecedented challenges. With low expected returns across asset classes and risk on the rise, he expects the role of asset managers to evolve from product provider to solution provider. In the future, asset management will be about delivering to clients investment solutions that are measurable against concrete economic goals. The era of solutions will require a rethinking of product design, risk management and portfolio construction, as well as distribution models to deliver the investment experience that investors demand.

News

UniCredit and Amundi enter Into exclusive negotiations regarding the sale of Pioneer
Twitter Feed
Latest Tweets by PioneerInvest
Tweets by @PioneerInvest