Davide Di Chio from Anima Sgr is our Sales Manager of the Month
25 SEPT, 2024
By Jose Luis Palmer from RankiaPro Europe
Davide di Chio is Head of Fund User at ANIMA Sgr. He joined the company in 2007, initially as Co-PM of US equity funds, then moved in 2013 to the Investment Advisory team, and finally in 2018 became Head of Fund User, with the responsibility for the distribution of ANIMA’s funds to fund buyers in Italy and abroad. Before joining ANIMA, Davide was a buy-side analyst / PM at Ras Asset Management, and previously a sell-side analyst at Cofiri, analyst at IDC and senior auditor at Arthur Andersen. Davide graduated in Economics from University Bocconi in Milan.
What made you decide to go into the financial sector? Did you have any other vocations? How were your first steps in the sector?
When I was studying at university and during my first years of work, my goal was to become CFO of a complex manufacturing company. Instead, I got – step by step – closer and closer to financial markets, initially as an analyst and finally as a Portfolio Manager. It seemed like the job of my life but I had to change my mind a few years later, when I landed in my current position, which I believe has the perfect mix of relational aspects and technical content.
What does a typical workday look like for you? What do you enjoy the most about your job?
Every day is different from the others, and this makes my job wonderful. Interaction with prospects and clients can take many different forms: from responding to a client’s request, to a rapid and informal exchange of opinions, up to a commercial initiative, which can be a meeting with the client and a Portfolio Manager, an event or a business trip. The typical day in my case also includes frequent interactions with PMs , my team and other corporate structures.
In your opinion, what are the key drivers for successful fund distribution? How do you approach building and maintain relationships with clients?
In a very crowded and competitive context, standing out from the competition and emerging is neither simple nor obvious. Having good, credible products, with consistent results, clear objectives, and a PM with good communication skills is crucial. But this is not enough, because investors also require access to Portfolio Managers, transparent and timely information, and assistance, in particular when things get complicated. I believe that not hiding away from difficult conversations, particularly in a more challenging backdrop, can create a solid foundation for a successful long-term partnership.
Could you highlight any topic on which investors should focus for the long term?
I believe that the most important long-term investment themes are demographic changes, technological innovation (of which Artificial Intelligence is just one of the forms that innovation can take) and climate change / decarbonization. The intersection between technology and healthcare represents one of the areas with greatest potential.
How do you stay informed about market trends and changes in the asset management industry?
I read newspapers, specialized sites, participate in events, I talk with my clients and colleagues. In general, I try to dedicate a small portion of my time to look at the “big picture”, and this often happens by talking to quality and experienced people.
What is your advice to investors, how should their position their portfolios with the current environment?
Giving advice in terms of asset allocation and portfolio position, without knowing the objectives and characteristics of the investor (risk appetite / tolerance, liquidity requirements, time horizon, just to name a few) may prove hard. This phase is certainly characterized by a high of uncertainty, and I believe that a balanced approach and diversification make sense. Diversification is not only a matter of asset classes, but also of market approach, management style, liquidity profile and investment time horizon.
What is the most exciting thing you have seen in the markets since you started working in the financial sector? And the biggest challenge you had to face?
I have been in the industry for over two decades, and there has been no shortage of thrills. The 2008-2009 Great Financial Crisis is something I will never forget, having also lived through that phase as a US equity PM. More recently, the Covid crisis of 2020, when I had just started as a salesperson, was both a shock and a great opportunity to grow and improve my communication and relationship management skills with clients and prospects.
What do you see as the biggest challenges and opportunities in the asset management industry today and how would you address them as a sales manager?
The asset management industry has always been on the move, and there is no shortage of challenges (and, consequently, opportunities), from regulation to pressure on fees, up to the development of private markets. Some of these trends have really changed the structure of the markets: the development of passive funds combined with growth of quant-managed assets has made the markets more vulnerable to episodes of volatility due more to technical reasons than to fundamental motivations. On the other hand, however, we have emerged from the anomaly of zero or even negative rates context and have returned to bond markets which offer interesting investment opportunities. I believe that a good salesperson must explore all the markets’ and products’ opportunities, listen carefully to his clients’ needs and maintain a strong focus on the service component of his work.
When you have free time, what do you like to do?
I read in another RankiaPro interview that the line between personal life and work has never been so thin…. I totally agree! This implies that maintaining a sound life-work balance is more complicated, but it should remain a priority. Said that, having 2 young kids my free time is mainly dedicated to my family; I also have a strong passion for music, actively played with my acoustic trio, and for movies and screenplays.
