MULTI-ASSET INCOME

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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.

PRODUCT SHEET

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)

The recent macroeconomic observations have revealed that the economic cycle was more robust than the markets had assumed, on the one hand putting off the possibility of a severe downturn; on the other hand, it has maintained pressure on the equity and bond markets, which also made a negative impact on performance in October.
Against this, the portfolio’s currency exposure, particularly the US dollar, has partially counterbalanced the impact.
Operationally, the Fund gained more duration overweight over the month, taking into consideration the level of yields reached and the fact that the cycle of Central Banks appears to be drawing to a close.
Conversely, we remain more cautious about equities as earnings prospects could be adversely affected by the ongoing economic slowdown.

Documentation

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