Barings' multi-asset team has bought £350m in Italian government bonds in the expectation European banks will use the ECB's Long Term Recovery Organisation (LTRO) to buy government debt.
Neptune founder and CEO Robin Geffen has ruled out the possibility of a eurozone breakup following a meeting with Italian Prime Minister Mario Monti.
Italy's will struggle to finance itself until borrowing costs fall back towards the 4% level, according to Goldman Sachs Asset Management chairman Jim O'Neill.
A downgrade of Italy's credit rating by one of the major ratings agencies would come as "no surprise", according to Allianz Global Investors' chief investment officer Neil Dwane.