Those who had predicted the success of the PIRs are confirmed not only in the funding results disclosed by the financial managers who have decided to make their debut on this new market over the last few months, but also in the Stock Exchange performance of the Lyxor Ftse Ital Mid Cap Pir. The ETF that passively replicates the performance of shares linked to individual savings plans has recorded a double-digit increase since the beginning of the year, literally tearing up the performance of the FtseMib, still at the mercy of the shaky international economic and political situation.
Making a comparison between the different performances, the result is almost merciless. The index that collects Italian blue chips has gained 1% since January 6,7 to today, thanks above all to the record rise of the FtseMib on April 24 following the victory of Emmanuel Macron in the first round of the French presidential elections which contributed to significantly raising this percentage.
A positive performance that of the FtseMib which, however, is not even remotely able to come close to that of the Eft Lyxor Ftse Ital Mid Cap Pir which has risen by 21,53% since the beginning of the year. The reason for the rally is not hard to understand. The individual savings plans, introduced by the 2017 Budget law after years of waiting, are gaining the favor of investors who, since their debut on 1 January, have found a new and interesting medium-long term investment opportunity on the market tax free.
“The ETF fully captures the spirit of the law which seeks to promote the real economy by facilitating the flow of savings to small and medium capitalization Italian companies. ETFs are often used for long-term investments and the PIR status of our ETF allows investors (also in a mediated manner through intermediaries' PIR solutions) to combine the tax advantages of PIR regulation with the typical simplicity, transparency and low costs of ETFs”. This is how Marcello Chelli, contact person for Lyxor ETFs in Italy, explains the stellar performance of the ETF on the Stock Exchange.
