dalton plumps up absolute return expertise

Dalton Strategic Partnership has hired Luca Vaiani as a portfolio manager to work alongside CIO Rupert Caldecott on the firms Melchior Global Multi-Asset Fund.

dalton plumps up absolute return expertise


Vaiani joins the six-strong multi-asset team from Fondaco SGR where he was portfolio manager of the Fondaco Global Opportunities Fund, a multi-asset absolute return fund.

Dalton said from the beginning of 2008 until his departure in August 2012 he posted a cumulative return of 20.3% with an annualised volatility of 7.3% and a low correlation with equities. It added that this compares to a return of 3.1% from global equities over the same period.

The Melchior Global Multi-Asset Fund targets a return of Libor plus 4% per annum over a rolling three-year period, with volatility of less than 8% per annum, while showing a low correlation with equity markets, and so Vaiani is a good fit for the team.

Magnus Spence, managing partner at Dalton Strategic Partnership, said: “We have been providing absolute return solutions for our clients since our inception and have always believed that true absolute return products should offer significant downside protection in extreme economic environments.

“Vaiana’s appointment will complement and enhance our existing multi-asset resources and is evidence of our continued commitment to the multi-asset, absolute return space.”

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