MULTI-ASSET INCOME
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Fondaco Multi-Asset Income is the result of a solid and structured investment process, combined with the selection of the finest specialised managers, effective risk management and the integration of social and environmental responsibility principles.
The fund exploits the opportunities offered by traditional asset classes through flexible exposure to equity, bond and currency markets and strict risk and cost control actions.
A single, simple, fluid and transparent instrument that incorporates a series of complex activities: from asset allocation to manager selection, from portfolio construction to dynamic portfolio management and a careful dividend distribution policy.
There are three performance drivers: "beta" created through a top-down approach based on the analysis of macroeconomic scenarios, the added value ("alpha") created by the specialised managers and by Fondaco's activities, and currency exposure, which is typical of a diversified portfolio and helps control volatility.
Everything is entrusted to a heterogeneous and complementary investment team that covers all the different areas offered by Fondaco, with a dedicated and result-oriented structure, precise responsibilities and clear governance.
PERFORMANCE
NET OF FEES
(CLASSIC B)
In July, markets maintained a positive tone, supported by overall favourable growth, inflation, and labour market data. Tariffs, fiscal policy, and possible Fed rate cuts were the main themes. Global equities performed positively, with the S&P500 index reaching new all-time highs, while the bond market showed moderate volatility. On the currency front, the US dollar moved back towards 1.14 against the euro at the end of the month.
Monthly performance was positive, driven by the appreciation of the dollar, followed by equities. From an operational standpoint, underweights in the dollar and US duration represent the main active portfolio positions.
OUR
FUNDS
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