Dynamic asset allocation, affirmed and emerging talents, research conducted directly in London and New York, “because we have always believed that being where interesting new players are up and coming is what makes the difference”. Not to mention the meetings, countless meetings – over 2,500 alone in 2013, ten times the industry average – in which we learn more about managers and opportunities that we must often hunt for in the niches.
In a wide-ranging article on Italy’s polical state of affairs, along with expectations and concerns surrounding the country’s economy and crucial issues for its future, published in the Financial Times on 4 February, Paolo Basilico was quoted as saying, “We do not want politically driven choices”. Asked to comment on investors’ point of view, Basilico – who is Chairman and CEO of Kairos Partners – noted that, in politics as in other things, it takes time to build anew.
Germany is, more or less, the usual train in motion. On the other hand, emerging countries are disappointing. And the disappointment is all the more bitter given how high are expectations were. David Grazzini, manager of Kairos Partners’ KIS Small Cap fund reports back after a recent trip with stops in various European countries to hear from and discuss with local managers, top management of large companies and investors.
No systemic risk at European level, a seemingly convincing revitalization of the US economy and renewed confidence in equities, these are some of the highlights that Livio Dalle, Kairos Partners Senior Portfolio Manager, believes could realistically characterize the year just begun. Now that 2013 is under the bridge, all focus has turned to what we can expect in the months ahead and how to act accordingly.
With the year 2013 just ended and already in the distant past, financial markets opened the new year with a different and, finally, more balanced approach. Where does the credit lie? “Mostly with the Federal Reserve,” says Vittorio Fontanesi, a member of Kairos Partners’ management team. “The US central bank has provided genuine support to rebalancing the market with the soft tapering implemented in December.
With 2013 behind us and as we move into the first few days of 2014, the finance world is bustling with analyses and projections, and Livio Dalle, Kairos Partners Senior Portfolio Manager, is no exception. His work focuses above all on the management of two network funds (BG Selection Sicav - Kairos Blend and Darta Challenge Team Kairos) and personalized asset management. We asked him to describe the year just ended and reflect - over the next few days on this site - on what we can expect in 2014.
How did the network funds perform in 2013?
“Focused on finally putting the post-Lehman era behind them, markets are undergoing a very delicate transition, as they fearfully struggle to cut the “ombelical cord” of cash from central banks and take their first small steps in the real world,” remarked Rocco Bove, a member of Kairos Partners’ management team, describing this year of transition for the bond world, as it shifts from the post-Lehman era to a new scenario in which we can once again believe in growth and the gen