The Group Intesa Sanpaolo today presented the PIRs – “Individual Savings Plans”: the new financial investment formula that combines support for savings and support for the real economy.
They were illustrated in detail by Gregorio De Felice, chief economist of Intesa Sanpaolo, Tommaso Corcos, CEO of Eurizon Capital, Alberto Baban, president of Piccola Industria and vice president of Confindustria and Stefano Barrese, head of the Intesa Sanpaolo Banca dei Territori Division, who reported on the launch of PIRs to the characteristics and needs of companies in the Italian economy, illustrating the new range of products "Eurizon Progetto Italia 20, 40 and 70" which Tommaso Corcos himself had already anticipated during theinterview given to FIRSTonline.
The group aims to cover the different needs of investors by creating 3 mutual funds differentiated by risk profile: conservative, moderate and dynamic, with an increasing equity weighting, at 20%, 40% and 70%, respectively. The new range allows savers to benefit from the tax exemption provided for by the legislation – for investments of up to 30 thousand euros a year, for a maximum of 150 thousand euros in 5 years – respecting the requirements of 70% investment in issuers Italians, with a focus also on SMEs. As for diversification, the margins granted by the free quota, equal to 30%, are used, with possible access also to various geographic and currency asset classes.
"I believe that the PIRs are an extraordinary tool, capable of combining benefits for savers and for the Italian system as a whole, channeling resources towards businesses in a stable and lasting way - said Tommaso Corcos - in particular small and medium-sized ones . The portfolios use an active and diversified management strategy on the equity and bond components, with constant and continuous monitoring of the portfolio risk".
For Alberto Baban, “the PIRs represent a positive and awaited novelty for the business world. With their introduction, the aim is to channel household savings towards the Italian production system – with particular regard to small and medium-sized enterprises – and to encourage the development of alternative financing channels with respect to bank credit”.
“In synergy with Eurizon Capital – explained Stefano Barrese of Intesa – we were the first to promote PIRs which represent another option that we give to our customers to access managed savings carefully and profitably, which is confirmed to be the best alternative to generate value on customers' investments while at the same time managing their risks through portfolio diversification, made possible by delegating the manager Eurizon Capital”.
