Objectives and strategies of the fund
Alessia Absolute Return Macro is an absolute return fund with low volatility. Managers allocate the assets, on a global basis, through a discretionary process based on macro-economic research aimed at the existing imbalances in the prices of equities, government bonds, corporate debt securities or financial, foreign exchange rates and related derivatives. For the equity exposure, index investment is preferred to investment in single stocks. Derivatives, traded on regulated exchanges, are used both for hedging purposes and for obtaining greater returns through the establishment of long and short positions in different financial assets. The fund may invest up to 10% in other UCITS. The investment is appropriate for those seeking protection from excessive market volatility and a stable long-term appreciation of their capital. Managers take care of both the overall risk that the specific risks of the investments made. However, there is no guarantee that investors will recover the capital invested.
03 December 2018 - Things have improved compared to a month ago. President Trump has put in hold his trade war, mainly with China and Italian new government is coming back to reality due to the tough European Commission stance and to bad Growth results. The non approval of Brexit plan from the UK parliament would be a good news for European markets and Euro. The big question for European markets is if Q4 growth will pick up and how the economy will react to the of the QE. In theory there should be no real impact since markets are inundated by liquidity. The reinvestment of matured bonds and coupons in long maturity bonds will help to keep spread compressed comapred to the normal value.