Being a wealth manager and not just a liquidity manager. Fideuram tries it, which until 14 December opens an option usually intended only for institutional customers to private and upper affluent customers. The new product Fideuram Alternative Investments – Global Private Markets is an investment diversification opportunity through multi-asset portfolios, with a focus on medium-sized companies and assets. The idea is precisely to propose a typical institutional investor solution to investors with greater financial resources, recognizing the importance of enhancing the link with production activities and real growth dynamics.
“Our proposal – he explains Federico Marzi, Head of Business Development at Fideuram Investimenti – enhances the link between investment, production activities and real growth dynamics; at the same time, it brings investment back towards a logic of greater discipline and lengthening of the time horizon, thanks to a flexible and dynamic portfolio, depending on the economic cycle”.
The proposed allocations are flexible and multi-strategy, to benefit from the best investment opportunities in the world of private markets: a world that has less exposure to short-term volatility, which has a strong link with the economic logic of productive activities, which doesn't just look for value but creates it. A world that offers investors opportunities without geographical and asset class limits: “It will focus – continues Marzi – on shareholdings in companies not listed on the stock exchange, large real estate transactions, important infrastructures and private debt not placed on public markets”.
The characteristics of Fideuram Alternative Investments – Mercati Privati Globali are those of an Italian-law fund, with an access threshold of €100.000, lower than a traditional private equity, with a duration of 10 + 3 years, subscription in a single solution, in collaboration with Partners Group, one of the world's leading private equity firms. The capital distributions will take place starting from the fourth year, with the aim of repaying the initial investment within the seventh year. The estimated rate of return for investors is between 6 and 9%.
Even the geographical location of investments is designed to reduce risks through diversification. “We foresee – concludes Marzi – of invest mainly in Europe and North America, with a smaller percentage on the Asian markets and in the rest of the world. And exchange risk hedging is envisaged for having at least 75% of the portfolio expressed in Euros”.
So why invest in Private Markets and with a multi-asset fund, such as that of Fideuram Alternative Investments Mercati Privati Globali? First of all, to diversify risk factors, by investing prudently, which, however, does not prevent us from offering objectively attractive returns in the current context. There is also the convenience of reporting to a single manager, to allow for flexibility and efficiency in terms of asset allocation and cash flows. And facilitated access to the asset class (fully paid-in, fund under Italian law, accessible commitment): because it is, in fact, an institutional product exceptionally on offer to the private investor.
