By establishing COMOI Fund S.C.A., SIF-SICAV, a specialized fund under Luxembourg law, the Group developed a financial platform capable of achieving distinctive goals simultaneously as putting institutional investors in a direct relationship with the Italian economic system, restoring the medium term financial market, reducing costs for end users and offering new high-quality assets to professional investors looking to diversify their portfolios in the medium-long term.
Italy Export Credit is the first sub-fund of COMOI Fund S.C.A., SIF-SICAV aimed at supporting Italian SMEs in their export activities.
Italy Export Credit invests in trade finance receivables, originating from international commercial contracts and mainly issued by foreign banks to settle payments in favor of Italian capital goods exporters. Trade finance receivables, typically letters of credit and guaranteed promissory notes, are acquired directly from Italian exporting SMEs on a without recourse basis (pro soluto). Through IEC, the exporters sell their deferred commercial credit to the fund at a discount price, thus collecting proceeds immediately.
For further information: Italy Export Credit.