Leonardo Asset Management is the fund management company jointly set up by DNCA Finance and Gruppo Banca Leonardo to expand the asset managment expertise of the group in Europe. This development is based on two Sicavs with compartments (Leonardo Invest and Ingenia). According to specialities of every asset management company, compartments' management is delegated to DNCA Finance in France or to Leonardo SGR in Italy – the asset management arm of Banca Leonardo.
PHILOSOPHY
All industrialized countries are likely to enter a recession in the next quarters. In October the Fed cut rates by 50 bps(now official rates are at 1%) and put the market on notice that further cuts may arrive soon. Economic statistics have come out very weak. In the US, October consumer confidence collapsed, the labour market has remained poor and Q3 GDP growth was negative. The drop in GDP growth largely reflected the plunge in household spending, which represents almost three quarters of the economy.
You need to upgrade your Flash Player
Aggregate perf.
at the
29/07/2010
Since the
01/01/10
1 month
3 month
6 month
1 year
5 year
Since the creation**
2009
Leonardo European Bond Opportunities (B Unit)
1,46 %
0,07 %
0,04 %
1,19 %
2,41 %
-- %
8,92 %
7,35 %
Leonardo European Bond Opportunities (I Unit)
1,85 %
0,14 %
0,20 %
1,52 %
3,08 %
-- %
10,03 %
8,14 %
Indice
Composite*
1,01 %
0,13 %
0,41 %
0,86 %
1,89 %
-- %
4,10 %
3,08 %
* JP Morgan 3M Euro Cash + 75 bps
** Unit B created on 05/01/2009
«The last performances are not a reliable indicator of the future performances. »
OBJECTIVES
Stable rate of return
ASSET CLASSES
European Fixed Income Securities
TARGET
For investors seeking exposure to European Fixed Income Instruments.
PERFORMANCES
Part B launched on 4 January 2009
2007: 2.0% (part I launched 06/05/2007)
