INVESTMENT STRATEGIES
Our philosopy
- We focus on Long-Term investment strategies.
- The return to our shareholders derives from a careful study and analysis of investment opportunities. We deploy quantitative strategies, model-based to develop a deep insight about inner assets value, based on statistical and fundamental analysis.
- We use Fuzzy Logic to combine and weight both the fundamental and the statistical indicators embedding the future investments’ quality performances.
- After the selection of assets forming the basis of the investable universe, we derive a ranking of the selected instruments, according to a proprietary model. We select the investments where we are going to focus only among the top ranked.
- The decision process is completed and supervised at the end, with a limited human intervention.
- We limit the leverage approach about 30 per cent of NAV.
Risk Management and Counterparties
INVESTMENT STRATEGIES
Investment strategies and their returns are the result of a combination of liquid (largely predominant) and illiquid positions.
RISK-RETURN CONTROL
We keep a strong Risk Management
surveillance in order to ensure
the best risk-return control.
TIER 1 INVESTMENT BANKS
The strategy is executed using exclusively
tier 1 investment banks.
STRONG RELATIONSHIPS
With all these counterparties we have developed strong relationships with special role for best execution strategies and dedicated credit lines to leverage trading positions.
High Yield Fixed Income/Hybrid 1
AN OVERVIEW OF THE STRATEGY
The strategy will invest in credit-related instruments focusing primarily, though not exclusively, in mini-bonds, corporate bonds, senior, mezzanine and junior tranches of notes issued in the context of trade receivable securitizations, originated by a diversified pool of American/European corporates and arranged by leading international investment banks.
They include, but are not limited to, government and agency securities, supranational debt securities, corporate bonds, Italian “mini-bonds” issued according to the Legislative Decree of 22th June 2012, n. 83, mortgage-related securities and asset-backed securities, collateralized debt and loan obligations, secured and unsecured performance loans, zero coupon securities, structured products, senior, mezzanine and junior securities, senior secured floating rate and fixed rate loans or debt, second lien or other subordinated or unsecured floating rate and fixed rate loans or debt, convertible debt securities, and derivatives with similar economic characteristics. The strategy may invest in fixed, variable and floating rate instruments, including letters of credit, participations and assignments, of any duration or maturity. In addition, the strategy could indirectly invest in credit-related instruments through SPVs or UCITS or non-UCITS funds.
Our strategy is mainly driven by an alternative approach, flexible, based on management skills and focused on generating alpha returns.
Therefore, the strategy aims to achieve an absolute return despite of market conditions.
High Yield Fixed Income/Hybrid 2
TARGET
The target is to obtain absolute positive returns by focusing on selected investments liquid/illiquid credit related instruments that are attractive as compared to those of traditional public equity and fixed income markets. Performances in the last 11 years, as per official track record of this strategy pillar, have been extremely rewarding with double-digit top-notch Risk Adjusted Returns. The q-strategy is model driven.
INVESTMENT POLICY
The Fund will seek to attain its investment objective by primarily (though not exclusively) investing in junior tranches of notes issued in the context of trade receivable securitizations, originated by a diversified pool of American/mainly European corporates, and arranged by leading investment banks. Additional, but not with mutually exclusive focus, we will also be devoted to:
- sovereign, agency and supranational debt securities;
- corporate bonds;
- mortgage-related securities and asset-backed securities;
- collateralized debt and loan obligations;
- emerging market debt securities;
- preferred securities;
- structured products;
- high quality money market securities and money market funds.
- mezzanine securities;
- senior secured floating rate debt instruments,
- fixed rate loans or debt, second lien or other subordinated or unsecured floating rate debt instruments;
- convertible debt securities and derivatives with similar economic characteristics, perpetual bonds, high yield bonds;
- units or shares of collective investment schemes;
Mutual/Hedge Funds
TARGET
Selection of top mutual/hedge funds to allow for the best diversification in terms of markets, strategies and asset classes worldwide, by guaranteeing robustness in asset allocation and minimizing portfolio fluctuations.
Some themes are actual more now than ever i.e. the so-called “futuristic finance”, the innovative healthcare, the “global green project”, the blue oil, etc.
We invest our money seeking diversification in others’ strategies, but always knowing physically the portfolio managers, talking to them, discussing the why and doing in some extent the homework together.
SELECTED EXAMPLES
Thematic Equity Portfolios
TARGET
Granular portfolio is the name of the game for us.
Best stock in 2021: Denbury Inc.
Fees
MANAGEMENT FEE
Our investment approach does not charge any management fee, which are set to be zero.
HIGH WATERMARK PERFORMANCE FEE
the fee is 20% (of the excess return).
2. For excess return between 10%-20%, the fee is 30%
3. For excess return above 20%, the fee is 50%
COMPANY COST MANAGEMENT
• Costs of the company must be approved by
the Board and by the General Meeting of the Limited Partners at the beginning of each year.
• Maniacal attention to costs paced to the rigor of our Firm
CONTACT US
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