Massimo Malvestio is an expert in value investing – in particular in major equity European markets – and the current Portfolio Manager and Chairman of the Investment Committee of Praude Asset Management, the company he founded in 2009. In an interview with “Focus Risparmio”, he recalled his career steps since the early days in the legal profession.
Law practice, finance and asset management: the career of Massimo Malvestio
Massimo Malvestio is an established Italian lawyer and financial expert. Throughout his long career, he worked as legal consultant to many Italian and European banks, as well as listed companies and the largest enterprises in Northeast Italy. Furthermore, he also sat on the boards, audit panels, and investment committees of banks, asset managers, and brokerage houses. In an interview with “Focus Risparmio”, an Italian magazine dedicated to asset management published by Assogestioni, the expert talked about his professional experience while recalling the many accomplishments he achieved in his career. After graduating in Law (University of Padova, 1985), Massimo Malvestio enrolled in the Register of Lawyers and qualified to represent clients before the Italian Supreme Court. He then started his career in 1990, when he cofounded the “Studio Legale Barel Malvestio & Ass.” law firm, which was later renamed “BM&A”. As Managing Partner, he successfully led the firm’s commercial law practice until 2014, when he took a step back from the legal profession. As recalled in the interview, in 1985 he had started to work with the legendary asset manager Mario Zarattini: “I was a great friend of him”, he said, “and even before he moved to Lugano and founded his own bank, we had talked together about many projects in the financial sector”.
Massimo Malvestio in the world of finance: Hermes Linder Fund SICAV and Praude Asset Management
An important element featuring Massimo Malvestio‘s professional path is the world of finance, which he entered in 2004, the year when he established his own fund Hermes Linder Fund SICAV. In a few years, his experience in value investing allowed the fund to record remarkable performances, such as a track record of performance of over 600% compared to the fund’s launch value. Furthermore, as explained in the interview with “Focus Risparmio”, today Hermes Linder Fund SICAV has an accrued performance for investors (net of fees) of 11.85% – 18 years after its foundation. The fund’s strength resides in “legal arbitration and its in-depth knowledge of the economic, financial and regulatory environment in which the fund operates”, Massimo Malvestio pointed out: Hermes Linder Fund SICAV’s “value investing approach” is deeply rooted in “joint studies of companies’ financial data, business plans and regulatory environments”, he added. The fund is managed today by Praude Asset Management, the company he founded in 2009 and where he holds the roles of Portfolio Manager and Chairman of the Investment Committee. The excellent performance achieved by the management team of Hermes Linder Fund SICAV is also confirmed by many international awards: the fund was indeed awarded the Thomson Reuter Lipper Fund Award for “Best Fund” over 3 years (“Equity Europe 2017” category), and was granted a “five-star rating” by Morningstar.