Fondaco Alternative Absolute Return (FAAR) is a highly concentrated portfolio of highly pedigreed hedge strategies, characterised by robust alpha generation and limited directionality.

Assogestioni category

Fund of funds

Management style


Currency of denomination


Bloomberg Code





Giuliano Anselmo

Fondaco Alternative Absolute Return (FAAR) is a highly concentrated portfolio of hedge strategies characterised by strong alpha generation and limited directionality.

The fund chooses “best – in – class” hedge funds. These hedge funds are often diversified internally into a variety of alternative sub-strategies. This structure is subject to strict risk control and can obtain considerable and stables returns even in very different market contexts, thus enhancing their decorrelation with respect to traditional risk premiums (equity, interest rate, credit).

The vehicle provides favourable liquidity conditions, in relation to the reference field, and it is the result of multiple decision-making aspects: the choice of the best manager (in absolute terms and with reference to specific hedge strategies), dynamic construction of investment portfolios based on qualitative and quantitative considerations, monitoring of individual investments with immediate intervention in relation to negative events.

The managers selected by FAAR always have a clear competitive advantage over their competitors, which can at least be summarized as one of the following:

  • Organisational structure (the ability to attract/train many of the best investment talents, but focus on risk management)
  • Specialisation (in- depth technical knowledge related to complex investment areas)
  • Technology (cognitive and financial superiority in research and development related to technology, technological avant-garde of the top players is now rarely attacked by competitors)

In accordance of the competitive advantages mentioned above, FAAR is powered by performance drivers that are well identified ex-ante, and typically linked to the sustainable generation of alpha: in fact, by choosing to strictly limit the sensitivity relative to the traditional index (beta is always < 0.3), and the added value (“alpha”) created by the hedge manager is derived from one or more of the following characteristics:

  • Stock picking (ability to select the best long and short opportunities)
  • Strength and avant-garde quantitative models
  • More accurate interpretation/forecasting of macroeconomic data
  • High degree of specialisation in complex market segments
  • Ability to deal with financial situations that offer higher return potential


Multi-Asset Income

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...

Fondaco Diversified Growth

FIA of Italian law designed to offer exposure to a broad spectrum of alternative long-term strategies, aggregating investments...

Active Investment Return

Flexible FIA under Italian law with the objective to achieving a positive absolute return through a dynamic and opportunistic exposure to different strategies...

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...

World Government Bond

International Government Bond Index Fund. The Fund offers diversified exposure to international bond markets, represented...

Fondaco Global Private Markets Fund

An effective investment solution for Italian institutional investors who want to gain global exposure to the best Private Equity and Venture Capital managers...

Global Core Allocation

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 Italian Loans Portfolio Fund

Fondaco Italian Loans Portfolio Fund is the fund dedicated to investments in loan portfolios, both those secured by...