EURO SHORT TERM
The Fund aims to create value by exploiting the investment opportunities offered by the short-term monetary and bond markets, limiting the overall volatility of the portfolio. The performance aim of the Fund is represented by Bloomberg Barclays Euro Tsy 1-3 Yr, with an annualized volatility of not more than 2%.
Assogestioni category
Management style
Benchmark
Currency of denomination
Bloomberg Code
ISIN
Manager
The Fund offers strategic management of the currency curve exposure and duration of the portfolio, a careful selection of securities based on profitability and relative value criteria, and an adequate diversification of the Fund between different and complementary instruments.
In detail, the overall duration of the portfolio managed tends to be lower than 36 months.
The fund invests mainly in short-term government bonds, prioritising issues with an Investment Grade rating – including repurchase agreements and bank deposits – and in units of funds (or SICAVs) set up by third parties with characteristics consistent with those of the fund.
Investment in non-governmental securities will always be residual, in order to increase the diversification and profitability of the portfolio, paying particular attention to the quality and creditworthiness of the issuers and the sectors they belong to.
The investment is concentrated exclusively in instruments issued in Euros, without taking on any exchange rate risk. The use of derivatives is allowed for interest rate risk hedging and efficient portfolio management.
PERFORMANCE
NET OF FEES
(CLASSIC B)
The Fund’s monthly performance is positive (+0.26%) and outperforms the benchmark (+0.08%).
Year-to-date performance is positive (+0.52%) and outperforms the benchmark (+0.16%).
The portfolio’s duration has decreased from 0.66 to 0.62 years. The portfolio’s YTM has reduced from 2.50% to 2.47%.
In the portfolio composition, government bonds account for 91%, of which 3% is inflation-linked. 8% is invested in corporate bonds, mostly foreign.
Geographically, the weight of Italian bonds remains at 53% of the portfolio, with an average duration of 0.67 years.
Spain follows with 20%, while Germany and France are at 10% and 5%, respectively.
Smaller Eurozone countries comprise 4%, while emerging “investment grade” countries in euros represent 2% of the portfolio. The portfolio also comprises 5% of euro-denominated bonds issued by Canadian provinces.
OUR
FUNDS
The Fund aims to generate income by creating a diversified and very liquid portfolio in traditional investment classes...
The Fund is designed to offer exposure to a wide range of alternative strategies through a single vehicle...
FIA of Italian law designed to offer exposure to a broad spectrum of alternative long-term strategies, aggregating investments...
Flexible FIA under Italian law with the objective to achieving a positive absolute return through a dynamic and opportunistic exposure to different strategies...
International Government Bond Index Fund. The Fund offers diversified exposure to international bond markets, represented...
An effective investment solution for Italian institutional investors who want to gain global exposure to the best Private Equity and Venture Capital managers...
Multi-asset management has been the heart and origin of our activity for over 15 years, with the development of a solid, structured and...
Fondaco Alternative Absolute Return (FAAR) is a highly concentrated portfolio of highly pedigreed hedge strategies...
Fondaco Italian Loans Portfolio Fund is the fund dedicated to investments in loan portfolios, both those secured by...
