• Pragma
    Wealth Management Ltd

About us

  • Founded in 2001 by three European families, Pragma is an independent and FCA regulated Fund Manager based in London.
  • We provide comprehensive multi-asset investment solutions to families,
    high net worth individuals and institutions, covering both discretionary
    and advisory services.
  • Our main objective is to find the “Champions” to protect and grow capital.
  • Why choose us: we are independent, we focus on interest alignment, we operate with highest integrity, we have a unique network, we are experienced and have built up a good track record since our start in 2001.

The Champions | Our Objective

Pragma’s objective:

  • Find the “Champions” to protect and grow capital.

Who are the “Champions”:

  • The “Champions” are the most talented managers in the world, who can exploit their exceptional skill in an inefficient competitive environment (“Virtus et Fortuna”).

Qualitative construction of the “Champion hypothesis”:

  • We seek to identify the following characteristics that shape the mind and the instinct of our “Champions”:
  • Absolute Return Mind
  • Systematic Approach
  • Alignment
    • Of intelligence and experience with what they do
    • With investor’s interest
  • Successful Professional History

Confirmation of the hypothesis through facts and data:

  • Measurement of the risk factors of the manager under Pragma’s proprietary risk framework
  • Background verification, portfolio analysis and track record quantitative analysis
  • Fully integrated Operational Due Diligence
  • Assessment on the present position in the cycle and on the future of the opportunity set


Luigi Carnelli

Luigi Carnelli


Luigi Carnelli is the Chairman of Pragma Wealth Management, having joined in March 2014.
Luigi is also a member of the Pragma investment committee. Luigi is Managing Director and Head Private Banking Italy at Vontobel Private Banking. He has extensive experience within the Banking and Alternative Investments industries.

Paulino López

Paulino López

Chief Investment Officer

Paulino Lopez is Chief Investment Officer. He joined Pragma Wealth Management in October 2008 as a junior analyst having graduated at Universidad de Oviedo with a BA in Business Management and Administration (2008). Paulino oversees all investment matters for the company. He is a CFA charter holder.

Emanuele Tosetti

Emanuele Tosetti

Head of Investments

Emanuele Tosetti joined Pragma Wealth Management in January 2016 as Head of Investments. Prior to Pragma, Emanuele worked as the Business Development Manager for Feal Srl, a real estate company based in Milan. Before Feal, Emanuele worked for 3 years at Mediobanca, Banca di Credito Finanziario S.p.A., where he was an analyst in the Debt Restructuring and Advisory team. Emanuele has a BA and MS in Law and Business Administration from Università Bocconi, Milano.

Farrah Kunwar

Farrah Kunwar

Investment Analyst

Farrah Kunwar joined Pragma Wealth Management in December 2015 as an Investment Analyst. Prior to Pragma, Farrah worked at M&G Investments (Prudential Group) as an Associate in the Financial Institutions Group. She has a BA from the University of Warwick and holds the IMC. Farrah is a member of the investment team working on new allocations and portfolio analysis.

Eefke Lazzari

Eefke Lazzari

Operations and Office Manager

Eefke Lazzari joined Pragma Wealth Management in May 2016 as the Operations and Office Manager. Prior to Pragma, Eefke worked at Bank of Ireland as an Associate Director within Business Banking Great Britain. Eefke has a Masters in International Business from the University of Maastricht, The Netherlands and is an ACCA student.

Pragma’s approach is unique

IndependentPragma differs from other counter parties as we are independent, have interests
aligned with clients and we are a free agent.
Interest Alignment– We seek for alignment of interest thus we seek managers that invest in their own
funds just as we invest in our own funds.
– Apart form interest alignment, it also encourages investment excellence.
Unique Network– We only select the best managers, the Champions.
– In all the cases, reference and access to the very talented is only achieved
through our extensive global network of contacts.
IntegrityWe operate with the highest integrity and professional standards.
We adhere to uncompromising ethical standards, offer complete transparency,
no conflict of interest and confidentiality is paramount.
RiskWe apply our proprietary R=L2+C3 risk management framework systematically to
all asset classes represented in the portfolio.
We consider that all the key risks are not only related to investment risks but also
operational risks are critical in a successful investment. That is why all the
operational due diligence of investments is conducted internally.
Experienced and
Proven Track Tecord
Pragma has an experienced, diverse and accomplished investment team.
The firm was established since 2001 and has a proven track record.
Pragma inherited the DNA of the decades of entrepreneurial activity of its founders.

Legal Information

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Pragma Wealth Management Ltd. is registered in England and Wales 04191349 (“Pragma”). The information on this website about Pragma is derived from sources considered reliable but no warranty, expressed or implied by Pragma, its partners or employees is given as to its accuracy or completeness. No reliance should be placed on this information in any decision to acquire or dispose of shares in any investment referred to herein. This website is limited to the dissemination of general information about the services provided by Pragma. This website and the information contained herein do not constitute and should not be construed as an offering of advisory or investment management services or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction in which such offer or solicitation, purchase or sale would be unlawful under the securities, insurance or other laws of such jurisdiction. Where links have been provided to other websites, this has been done solely for our users’ convenience, without giving any express or implied guarantee, endorsement or recommendation by Pragma. Pragma has no responsibility for the content of such websites and cannot accept any liability in this respect. Use of these links implies acceptance of this condition. Whilst we seek to keep this website up-to-date, the information displayed is subject to change without notice. For professional investor only.

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