“A strong track record, high single-digit returns and contained volatility: it is not by chance that KIS Selection received five stars from Morningstar”. The Kairos Fund’s sought-after recognition was announced by Guido Brera, the company’s Portfolio Manager, at the annual conference held in Milan on November 11, with special guest Joseph Stiglitz, Nobel prize winner for Economics in 2001. “We are particularly proud of this recognition,” Brera went on to add, “because it certifies the long-term success that we have earned by staying true to the assumptions on which this product was created in late 2010”. Pietro Ajello, Portfolio Manager explained precisely what these winning assumptions are: “KIS Selection aims to achieve capital appreciation in the medium- to long-term, regardless of market conditions, by investing primarily in equity markets. Significant focus is placed on volatility, which must be contained and has remained under 5% since inception. This is with annualized returns of 7%, or over 20% in three years. This is the ideal Fund for someone looking for a product that combines stock picking and market timing”.
Net exposure is always managed flexibly in order to limit volatility. But what are KIS Selection’s themes? “Europe and its periphery are certainly at the core of our focus,” explained Ajello. “We invest in businesses that we know well, corporate restructuring and special situations whose value has not yet been realized on the market. Major contributors this year have been Gemina, Autogrill and Vodafone to name a few”.
The Fund’s investments have been able to generate interesting, positive returns three years in a row, enough to attract the interest of Morningstar – a leading independent investment research firm – which selected the Fund and named it one of the top flexible balanced funds in Euro.
But the good news does not end here: KIS Selection closed the month of October with a net performance of +1.55%, putting it at +5.76% since the start of the year.