28 December, Requadro
The fund Perugino is operational. It was created by Sorgente sgr to invest in loans, performing and non-performing, mainly brought by the underwriters. The fund acquires and manages bad loans of banking nature within the threshold of 50% of its assets, as well as performing credits (solvent), both unsecured (not backed by real estate) and secured (backed by mortgage).
The fund has the objective of collecting 50 million euro and it sees among its investors mostly cooperative banks. With a seven years horizon, which may be extended, the fund addresses banks and other financial companies. Its portfolio is currently composed of non-performing loans for a nominal value of about 45 million euro, corresponding to approximately 1,300 obligations, 10% of which are secured and 90% unsecured.
Perugino is the second fund dedicated to credits by Sorgente sgr after Pinturicchio, both products are capable of providing investors with higher returns with a low risk. “Investing in bank debts – declared Giovanni Cerrone, Sorgente sgr general director – shows the potential of the current market, which is nowadays very interesting. Besides, it has an ethical and social function for the most vulnerable Italian families. Buying credits at a much lower price than their nominal value, in fact, allows making more sustainable repayment plans. This makes possible regain trust in the future, thanks to repayment strategies compatible with the needs of the financially struggling social categories”.
Translator: Cristina Ambrosi