Log in

Login to your account

Username *
Password *
Remember Me

Forgot your password | Forgot your username

Report 07/2018

After a negative June, at least on the European markets, we have seen a momentary inversion

with SP500 index back in contact the highs but the European indexes, although recovering, did not improve the trend .

The derivatives  in our portfolio, which had suffered the congestion of the FTSEMIB index, so accentuating the loss of the last month, could overturn the situation by break  of  range in which it was confined.

The overall performance was + 2.48% against +0.80 of Fideuram Flexible index and in line with the MSCW. Even the result of the equity component alone achieved a 2% round.

During the month, we worked at  portfolio arrangement, returning to defensive securities, reducing the Gold component and maintaining a higher level of liquidity than the average of last months.

In the Sentiment section we will see the state of investments considering that the political and economic tensions have not failed.


Giorgio Giovannoni


We attach schedule of the portfolio.



Download this file (Report 2018-07.pdf)Report 2018-07.pdf[ ]77 kB