MULTI-ASSET INCOME

The Fund aims to generate income by creating a diversified and very liquid portfolio in traditional investment classes, with a flexible management policy and variable exposure to the markets.

Assogestioni category

Flexible funds

Management style

Flexible

Currency of denomination

Euro

Bloomberg Code

FMAICLB IM Equity

ISIN

Classic B Shares: IT0005013823; Professional A Shares: IT0005013849; Professional B Shares: IT0005013864; Institutional A: IT0005013880; Institutional B: IT0005013906; Restricted A: IT0005369936; Vintage A: IT0005411449; Vintage B: IT0005411464

Manager

Giulio Casuccio

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)

August saw an increase in financial market volatility, with a moderate correction in equity indices in the first part of the month and a bear steepening movement, particularly in the U.S. yield curve, accompanied by a dollar strengthening. Meanwhile, interest rates in the Eurozone remained relatively stable.
During the month, the primary detractor in absolute terms was equities, while bonds and credit remained neutral. On the other hand, the currency contribution was positive and driven by the appreciation of the U.S. dollar. Operationally, the portfolio remains broadly diversified, but a conservative approach is being maintained. The main idiosyncratic positions focus on overweighting the Yen in the emerging debt basket, the emerging equity basket excluding China, a duration-neutral position of long 2 years/short 5 years on the U.S. yield curve, and a tactical position in gold.

OUR
FUNDS

Growth

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...

Alternative Absolute Return

Fondaco Alternative Absolute Return (FAAR) is a highly concentrated portfolio of highly pedigreed hedge strategies...

Fondaco Italian Loans Portfolio Fund

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