EXOR : family-controlled company
With this company’s strong history of value creation you have a good prospect of outsized returns. This Italian-listed holding company run by the Agnelli family, traces its roots back to the formation of FIAT in 1899. It has exposure to four main assets, three of which are listed: Fiat Chrysler Automobile, Ferrari and CNH Industrial, and one unlisted: PartnerRe. PartnerRe is a high quality, cyclically robust private reinsurance business accessible only through EXOR. EXOR trades at a 27%* discount. The Agnelli family has a strong history of value creation and, by aligning your capital with theirs, we believe there is a good prospect of achieving outsized returns.
*AVI estimate at 31 December 2019