AZ Sestante, the Australian subsidiary of Italian wealth management firm Azimut, has launched an Australian version of AZ Funds Management’s global macro fund.
The Sestante Global Macro fund invests in the Australian dollar denominated class of units of the AZ Multi Asset Institutional Macro trading fund, a Luxembourg
domiciled fund managed by AZ Fund Management SA.
AZ Funds Management is the investment management arm of Italian wealth management firm Azimut. The firm set up Australian advice business AZ Next Generation Advisory in February 2014, installing former ANZ head of wealth Paul Barrett as its chief executive.
AZ Sestante is an Australian-based subsidiary of Azimut, administered locally by Ironbark Asset Management, which offers Australian investors funds offered by AZ Funds Management globally.
The Sestante Global Macro funds aims to outperform the RBA cash rate by 2 per cent per annum before fees, with volatility of less than 4 per cent.
AZ Sestante head of distribution Andrew Davies said, “It is exciting to be able to showcase Azimut’s global investment capabilities. 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.”
