iMGP Debuts First Active Italian Equity ETF on Euronext Milan

iM Global Partner and DECALIA have launched the iMGP Italian Opportunities UCITS ETF (ITAL), the first actively managed Italian-equity UCITS ETF listed on Euronext Milan. Managed by veteran investor Alfredo Piacentini, who has overseen the strategy since 1985, the fund invests in 50–70 Italian stocks across the market-cap spectrum. Unlike passive Italy ETFs concentrated in large-cap names, ITAL uses a high-conviction approach combining macroeconomic analysis, fundamental stock selection, opportunistic small- and mid-cap exposure, and a focus on management quality and governance. The strategy has delivered approximately 9% annualized net returns since 1996.