The fund Obelisco plummets as it approaches the maturity

11 August, Il Sole 24 Ore

The funds that are approaching the maturity have seen the value of their equity decrease. The funds have been registering considerable capital losses in comparison with the forecasts of six months ago, as the assets were being sold and were left unsold, without mentioning the initial book values. The most striking example is the fund Obelisco, whose Nav plummet by over 70% in just one semester. Since the start, the fund lost more than 25% of its value per annum, falling straightaway in the category “betrayed saving”. The sharp value reduction also concerned the funds Securfondo (-16.8%) and Polis (-11.8%). Atlantic 2 has completed the divestiture of its assets and will distribute 67 euro per share on 13th August. Even in this case, the Nav fell by over 12%.

Funds whose deadlines are far ahead have performed better: Opportunità Italia (+4.3%), Mediolanum Re (+5.7%) and Immobiliare Dinamico (+0.7%). Amundi RE Europa is pursuing its divestiture process and it will re-pay 230 euro by the end of August, limiting the operational losses (-0.5%). It’s not by chance that the Stock Exchange awarded the fund with a +16.8% since the start of the year. Finally, some funds have struggled with completing the transactions due to the increased uncertainty perceived by the international players.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

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