Project Description

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)

CHART

In December, the Fund’s performance was positive, despite the fluctuating markets’ context and the benchmark, which remained stable: +0,5% over the month, brought the performance figure for 2021 to +9,2%.
The main contributor was equity exposure and, especially, from US and Europe allocation. Duration’s underweight allowed limiting the negative effect of rising interest rates since mid-month. Gold also made a positive contribution.
In operational terms, we gradually increased our defensive positions in gold and yen and took a partial profit on the Chinese bond position in local currency.
The allocation is remaining supportive in equities and prudent to bonds. In addition, gold, yen’s overweight and Swiss franc are confirmed as volatility hedges.

Documentation

OUR
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