AZ Sestante is continuing to expand its Australian footprint with the launch of Sestante Global Macro Fund.
The Global Macro Fund aims to outperform the cash rate before fees and keeps volatility less than 4%; it has a low correlation to the financial markets over a rolling one-year period.
The fund invests in the AZ Multi Asset Institutional Macro Dynamic Trading Fund as the underlying fund, a Luxembourg domiciled fund managed by AZ Fund Management S.A.
The underlying fund generated about a 9% per annum return with an annualised volatility of approximately 3.6% since its inception on January 2009.
The Global Macro Fund requires a minimum of $20,000 as an initial investment; it charges a 1.89% per annum management fee.
The fund's portfolio adviser, Massimo Guiati, has been the chief investment officer of AZ Investment Management Hong Kong since 2011, a subsidiary of the Azimut Group.
Guiati said: "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."
AZ Sestante head of distribution, Andrew Davies said: "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."
AZ Sestante is the Australian subsidiary of Italian wealth management company Azimut Holdings, and manages more than $54 billion in assets globally, including approximately $4 billion in multi-manager products.