Italians do it better

Foreign asset managers are dumping cheap investment products on the Italian pension market in order to drive out their domestic competitors. That is the charge made by Attilio Ferrari, chief executive of Arca SGR. Strictly speaking, he is right. The WTO says that if a company exports a product at a...

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Veröffentlicht in:Global Investor 2002-06 (153), p.6
1. Verfasser: Sills, Ben
Format: Artikel
Sprache:eng
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Zusammenfassung:Foreign asset managers are dumping cheap investment products on the Italian pension market in order to drive out their domestic competitors. That is the charge made by Attilio Ferrari, chief executive of Arca SGR. Strictly speaking, he is right. The WTO says that if a company exports a product at a price lower than the price it normally charges on its own home market, then it is said to be "dumping". A price comparison in the US would clearly show that this is the case. But that does not mean that Ferrari has any cause for complaint. It might be an aggressive strategy, but the fact is it is not working. Although a number of the smaller local players have found life difficult, the closed-end funds market is still dominated by Italian managers. The tactics of foreign firms may be driving down pricing for the domestic players but they are not taking significant market share from them.
ISSN:0951-3604