Italy’s Azimut launches anti euro break-up fund

Italian asset manager Gruppo Azimut has increased the offering of its Luxemburg-domiciled AZ Fund and launched Global currencies & rates and Bond target settembre 2016.

Global currencies & rates invests in non-euro and emerging market bonds and it aims to take profit in non-euro currency markets, reducing the risk of a euro break-up for investors. The fund focuses on sovreign AAA bonds, uncorrelated to country risk.

Bond target settembre 2016 is part of the ‘Target’ group of funds offered by Azimut. It has a four years durations and it only invests in government and sovreign bonds and corporate bonds with investment grade that match its duration.

The portfolio of the fund doesn’t have an equity component.

“The investment scenario has changed, and as happened in the past with our fund Solidity we have quickly reacted to changes to meet our clients’ needs. The financial crisis is weakening Europe and investors need to diversify their currency risk to defend their purchasing power. AZ Global Currencies & Rates invests in 21 currencies, reducing volatility and minimising the risk of a possbile break-up of the euro,” said Stefano Mach, manager at Gruppo Azimut.

The new funds are already available to Italian investors.

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