Amber Capital LP is an employee owned hedge fund sponsor. It was founded in 2005 and is based in the New York, with offices in all major financial centres around the world. Giorgio Martorelli, a portfolio manager working at Amber Capital's London office, is now advising his customers to invest in Italy.
According to Mr. Martorelli, "Notwithstanding political instability, many Italian companies have delivered outstanding results. There is a huge underweight in the market". Amber Equity Fund, which has delivered a 2.1 percent return this year, is planning to invest in Italy's banking industry, thanks to the restructuring plan of UniCredit and the government rescue program for rescue of Monte Paschi di Siena, as well as small local utilities, a sector in which potential mergers and acquisitions are foreseen.