Anthilia is an independent partnership focused on asset management for private and institutional clients.
Founded by a team of skilled investment professionals associated with institutional partners.
Focused on clients’ needs: simplicity and quality in portfolio management with capital protection and total return objectives
Active on investment funds and individual portfolio management
Anthilia Partners co-invest in its products together with Clients.
Flexible investment management
Capital protection and stable yields along time. These are our fundamental objectives in investment management.We work for absolute return, independently from market movements and benchmark constrains, bringing together discretionary portfolio management and quantitative techniques.
Discretionary investment management
We are active managers and we invest only in areas where we have strong competences. our portfolio managers have at least 20 years investment experience.
We monitor investments liquidity in order to avoid illiquid portfolios.
Quantitative investment management
We associate a quantitative approach to our flexible style: we build investment models based on mathematic and statistic, pursuing capital protection and continuity of yields.
The research methodology of our proprietary models is based on macro-economics and technical analysis.
3. Agenda Anthilia Capital Partners SGR Spa
Company overview
Anthilia investment funds: distinctive features
Risk Management
3
4. Anthilia Capital Partners - overview Anthilia Capital Partners SGR Spa
Anthilia Capital Partners SGR
Vital fews
An independent asset management company
for private and institutional investors
Founded by highly reputed professionals of
the industry and two private banks
Committed to transparency and to deliver
capital protection and total return strategies
Active in open-end mutual funds management,
customised mandates and investment advisory
4
5. Anthilia Capital Partners - overview Anthilia Capital Partners SGR Spa
Partners – professional experience
Eugenio Namor Giovanni Landi Andrea Cuturi
Indipendent Chairman Senior Partner, PM Partner, CIO
Anthilia Blue Fund Manager
27 years of experience 25 years of experience at
at San Paolo IMI, Caboto Deutsche Bank, Comit
18 years of experience
and Nextra IM
at Comit, Nextra IM
and Eurizon
and Credit Suisse.
Indipendente
Lucio Cuppini Marco Capolino Massimiliano Orioli
Partner Partner, CEO Partner, Grey & Orange
Fund Manager
28 years of experience 18 years of experience
at Gruppo Unipol in Erns & Young and 25 years of experience
Yank Sgr at Comit, Nextra and
CAAM
Paolo Rizzo Markus Ratzinger Daniele Colantonio
Partner, Red & Green Partner, White & Yellow Partner – Risk Mgr
Fund Manager Fund Manager 11 years of experience
25 years of experience 17 years of experience at Lloyds, ArthurDLittle
at Deutsche Bank, at Citigroup, Chase and Enav
Fondiaria SAI and Credit international and Giro
Agricole Credit Bank
5
6. Anthilia Capital Partners - overview Anthilia Capital Partners SGR Spa
Our principles
Partnership
Alignment of interest among partners-fund managers and
investors
Expertise
Over 150 years cumulative experience. Long track record
Independence
No conflict of interest, autonomy in investment decisions
Genuine Focus
On clients needs: capital protection, transparency and total
return
Coherence
Investment choices respectful of clients’ risk appetite
Knowledge
Active only in markets where we got experience and
undisputable knowledge
Consistency
Results delivered since inception in various market condition
6
7. Anthilia Capital Partners - overview Anthilia Capital Partners SGR Spa
Management team, intuition and discipline
Anthilia Discretionary Team Anthilia Quant Team
Paolo Andrea Markus Massimiliano Daniele Matteo
Rizzo Cuturi Ratzinger Orioli Colantonio Soriani
Fund Manager CIO & Fund Fund Manager Fund Manager Risk Manager & Quant
Red & Green Manager Blue White e Yellow Grey & Orange Quant Specialist Analyst
Stock picker Stock picker Master in Global tactical Forecasting Option
Euro equity European Finance Asset Allocation models pricing
equity
Quant Equity Quant models
models for Value derivatives on risk Hedging Software
industry management trader allocation strategies specialist
analysis style
Corporate Correlation
Techinical Fundamental bond picker analysis Momentum Statistical
analysis research trading analysis
Analysis and
macroecono
mic
management
7
8. Anthilia Capital Partners - overview Anthilia Capital Partners SGR Spa
Net sales and Assets under Management
Net inflows: Anthilia vs market Asset by client type (as of 31.12.2012)
Anthilia funds Professional Partners
Wholesale clients 3.0%
million €
Retail clients
18.0%
38.0%
41.0%
Institutional Investors
Italian Funds Market
billion €
Total AUM: € 512 million
8
9. Anthilia Capital Partners - overview Anthilia Capital Partners SGR Spa
Business lines, net sales and AUM
Business lines Anthilia funds AUM (% of total as of 30.09.2012)
Management of mutual funds and unit trusts
Each fund is managed by a partner/manager
Separate managed account & financial advisory
Ad hoc investment selection based on client’s risk
appetite and time horizon
Sub-advised mandates / White label funds
Managed on behalf of institutional investors with a
defined risk-return target
Net sales
9
10. Anthilia Capital Partners - overview Anthilia Capital Partners SGR Spa
Distribution networks
Platforms for institutional clients Distributors to private clients
Contact us directly:
Anthilia Capital Partners SGR
marketing@anthilia.it
Tel. +39 02 97 386 101
10
11. Agenda Anthilia Capital Partners SGR Spa
Anthilia Capital Partners SGR – overview
Anthilia investment funds: distinctive features
Risk Management
11
12. Anthilia investment funds: distinctive features Anthilia Capital Partners SGR Spa
“Satellite“ fund offer
Risk-return profile
Anthilia funds complete the traditional asset
allocation based on cash + bonds + equity with
satellite strategies focused on absolute / total
Expected return
return approach
Green Black
Yellow Red
Grey Orange
10%
Blue
7% White
Geo
5%
3%
1% / 3% 3% / 5% 5% / 7% 7% /10%
Asset Allocation
Risk
(volatility)
12
13. Anthilia investment funds: distinctive features Anthilia Capital Partners SGR Spa
Products positioning
Underlying securities
Equity
Multi- GEO Global
Asset Cash Plus II
Bonds
+1% +2% +3% +4% +5% +5% +6% +7%
Excess return target vs. cash
Anthilia’s offer covers a wide range of risk-return profiles, with
different investment strategies and underlying assets
13
14. Anthilia investment funds: distinctive features Anthilia Capital Partners SGR Spa
Strategies and investment styles
Anthilia Anthilia
Anthilia Anthilia
Anthilia Anthilia
Anthilia Anthilia
Anthilia Anthilia
Anthilia Anthilia
Anthilia Anthilia
Anthilia Anthilia
Fondo Fondo
White Grey
White Blue
Grey Yellow
Blue Orange
Yellow Green
Orange Red
Green Black
Red Black
€ Corporate € Corporate High Yield &
High Yield & Long-Short Long Bias
Long-Short Managed
Long Bias Managed
Strategia Strategia Multi-strategyMulti-strategy
GTAA Global Macro Global Macro
GTAA
Bond EmBond
Mk Debt Em Mk Debt
Equity Italy Euro Equity Futures
Equity Italy Euro Equity Futures
Securities Picking ***
Securities Picking *** *** ***
*** ***
*** ***
*** ***
*** *
*** *
Fonti di valore di valore Timing
Fonti Market Market Timing ** ** * **
* *
** *
* *
* ***
* ***
***
Asset Allocation Allocation
Asset ***
*** **
*** ***
** ***
*** *** *** ***
Bottom up Bottom up *** *** ** ***
** *** *** ***
*** ***
Top-down Top-down ** ** ** ** *** ***
Approccio Approccio
Discrezionale ***
Discrezionale *** *** ***
*** *** *** ***
*** ***
Quantitativo
Quantitativo* ***
* *** *** *** *** ***
Fondi di terzi/ETF terzi/ETF
Fondi di Max 10% Max 10%
Max 10% Max 10%
Max 10% Max 10%
Max 10% Max 100% Max 100%
Max 10% Max 10% Max 10%
Max 10% Max 10%
Max 10% Max 10%
Volatilità Target
Volatilità Target Max 3% 5%
Max 3% 6%
5% 8%
6% 8%
8% 7%
8% 8%
7% 9%
8% 9%
Ritorno Atteso (medio annuo)
Ritorno Atteso (medio annuo)
EONIA + 2%EONIA + + 3%EONIA + 3%
EONIA 2% 5% 7%
5% 7%
7% 7%
7% 7%
7% 8%
7% 8%
14
15. Agenda Anthilia Capital Partners SGR Spa
Anthilia Capital Partners SGR - overview
Anthilia investment funds: distinctive features
Risk Management
15
16. Risk Management Anthilia Capital Partners SGR Spa
Risk Management and value creation
1. Capital protection Assessment
• Exposure control
• Assets liquidity
• Leverage limits.
• Compliance to law and procedures
2
2. Performance monitoring 3
• Performance breakdown
• Value contribution analysis
1
3. Committment
Control Committment
• Sharing analysis with Fund Managers.
• Support across road-shows with
Clients.
16
17. Risk Management Anthilia Capital Partners SGR Spa
Capital protection – Risk mapping
Financial risk Operational risk Reputational risk
• Price risk (Portfolio risk) • Depositary Bank operations. • Market abuse control
• Counterparty risk • Subscritpions and redemptions • External communication
• Liquidity risk risk and media
• Inestment limits violation • NAV calculation and fees
risk • Activity tracking and
Information technology
17
18. Contatti Anthilia Capital Partners SGR Spa
Locations
Milan Rome Bologna
Corso di Porta Romana, 68 Via Antonio Bertoloni, 55 Via Guerrazzi, 28/3
20121 Milano 00197 Roma 40125 Bologna
Tel +39 02 97386 101 Tel +39 06 45496 450 Tel +29 051 296 0714
Fax +39 02 97386 100
www.anthilia.it email: info@anthilia.it
18
19. Disclaimer Anthilia Capital Partners Sgr Spa
This document is produced for information only and does not constitute an offer to sell or an invitation to
buy any financial instruments. Any research or analysis used in the preparation of this document is based
upon sources believed to be reliable, but no representation or warranty is given as to the accuracy or
completeness of those sources. Any opinions, estimates or forecasts may be changed at any time without
prior warning.
This document is not intended for distribution to private investors and is not directed to, or intended for
distribution to or use by, any person or entity who is a citizen or resident of or located in any locality,
state, country or other jurisdiction where such distribution, publication, availability or use would be
contrary to law or regulation.
Past performance is no guarantee of future performance.
This document has been issued by Anthilia Capital Partners Spa for information use only.
This document may not be reproduced or distributed, either in part or in full, without prior authorization
being obtained from Anthilia Capital Partners SGR SpA.
19