New active
investing

NEW ACTIVE MANAGEMENT

Strategy allocation replaces asset allocation.

Our allocation is to five strategies of return generation:

INCOME

Designed to build a stable source of carry for the portfolio, through investment in cash flow generating assets (equities, credit, real estate).​

COMPOUNDERS

High quality companies that can grow and compound earnings over several years. Internal ownership, strong balance sheets, high and stable Return on Invested Capital.

GLOBAL MACRO

Equity markets, rates, currencies, countries and sectors, with individual positions which reflect our view of the world through the economic cycle.​

SPECIAL SITUATIONS

Assets where catalysts and circumstances (M&A, distressed assets, etc.) are very company specific. Such assets provide bottom-up, uncorrelated investments.​​

ALTERNATIVE ASSETS

Less correlated, which work in periods of market disruption (gold, real assets, volatility and commodities), arbitrage strategies.

Outcome investing is high conviction. Combining assets on Time and Correlation delivers a truly diversified portfolio, contrary to traditional asset allocation.

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The optimal risk allocation varies through the cycle

Our allocation to the five strategies is adjusted dynamically through the economic cycle to reflect the changing asset valuations. The economic cycle is negatively correlated with the cycle of investment opportunities’ valuations.

– ECONOMIC CYCLE

– INVESTMENT OPPORTUNITY CICLE

All investment cases are subject to the same 360° review

Each investment idea is analysed from different angles by our multi-disciplinary team. We believe the real value is in how bottom-up and top-down work together. We evaluate the contribution of each idea to the return, volatility and overall portfolio structure. This approach ensures the optimal capture of return, diversification and risk management for a total return objective.

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Our portfolios are different to other asset

managers, because they are not built on asset

allocation.

OUR PORTFOLIOS ARE A MIX OF:

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Income sources

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Compounding growth stories

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Macro opportunities

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Special situations

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Alternatives

REGISTERED OFFICE

Plenisfer Investments SGR S.p.A.
Via Niccolò Machiavelli 4
34132 Trieste (TS)

OPERATING ADDRESS

Via Sassetti 32, 20124 Milano (MI)
info@plenisfer.com
+39 02 8725 2960

CONTACT US

Contact us at info@plenisfer.com

IN PARTNERSHIP WITH

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VAT INFO

Tax ID: IT 01328320328

Belonging to Generali Italian VAT group: 01333550323

Registered to The National Compensation Fund

DISCLAIMER

Please read the KIID as well as the Prospectus before subscribing. Past performance is no indication of future performance.

The value of your investment and the return on it can go down as well as up and, on redemption, you may receive less than you originally invested.

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