AZ Sestante continues to grow its footprint with the launch of the Sestante Global Macro Fund


Andrew Davies

As part of its broader asset management strategy AZ Sestante launched the Sestante Global Macro Fund (the Fund) on 1st September 2017. This is the first fund offered by AZ Sestante that utilises the investment management capabilities of its parent Azimut and their Luxembourg based investment management business AZ Funds Management S.A.

The portfolio advisor for the Fund is Massimo Guiati, who has been responsible for the strategy since 2008 when he joined Azimut. Massimo has over 20 years experience in investing with a background in derivatives trading and currently advises assets in excess of EUR1Billion across a number of funds and employs a top-down investment approach focussing on macro-economic themes and fundamental market analysis to identify opportunities within some of the most liquid financial markets globally.

The Fund gains its investment exposure by investing into the Australian dollar (’AUD’) denominated class of units, of the AZ Multi Asset Institutional Macro Dynamic Trading Fund (’Underlying Fund’), a Luxembourg domiciled fund managed by AZ Fund Management S.A. (’AZ Fund Management’). The Fund aims to outperform the RBA Cash Rate +2% p.a. before fees with volatility of less than 4% and low correlation to traditional financial markets over rolling 1 year periods. The Underlying Fund has generated an AUD return of just over 9% per annum with an annualised volatility of approximately 3.6% since its inception in January 2009.

AZ Sestante Head of Distribution, Andrew Davies said “It is exciting to be able to showcase Azimut’s global investment capabilities. We have listened to advisers as to the type of investment product they are looking for and high quality, daily liquid, uncorrelated, defensive type funds are definitely on their wish list.”

Massimo Guiati, Advisor, stated “The Fund operates under a highly flexible mandate leveraging trends in global equity, commodity, fixed income and FX markets. The fund looks to be lowly correlated to traditional financial markets with the ability to profit in both up and down markets. Another key feature of the strategy is that it provides daily liquidity.”

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