In an interview with "I Corrieri del Rispamio", an Italian magazine dedicated to investment and asset management, Massimo Malvestio talked about the strong growth achieved by Hermes Linder Fund SICAV, the fund he launched in 2004. Since then, as explained by the Founder, Hermes Linder Fund managed to record impressive results, including a track record of performance of over 600% compared to the launch value.

Hermes Linder Fund SICAV: value investing with Massimo Malvestio

After a long and successful career as a lawyer and legal consultant, in 2004 Massimo Malvestio established his own fund Hermes Linder Fund SICAV. Five years later, he also founded Praude Asset Management, a successful asset management company where he currently holds the roles of Portfolio Manager and Chairman of the Investment Committee. In an interview with "I Corrieri del Rispamio", an Italian magazine dedicated to investment and asset management, he explained which value investing strategies Hermes Linder Fund is focused on and how these are pursued by the management team. Hermes Linder Fund has "considerable freedom of movement", Massimo Malvestio pointed out in the interview, "and today it invests mainly in Italy. We also use legal arbitration to drive performance, while leveraging on the opportunities offered by legislation. On average, these situations occur every three to four months". The expert in value investing also added that the fund's strong growth is due both to the performance achieved and to word of mouth: "This is how we managed to have over 340 million euros of assets under management", he said, "with our fund among the best 1% of Small Cap funds by return in three of the last six years (Bloomberg)". The fund's excellent performance is also confirmed by many international awards, including the Thomson Reuter Lipper Fund Award for "Best Fund" over 3 years in the "Equity Europe 2017" category.

Hermes Linder Fund SICAV, Massimo Malvestio: value investing strategies featuring "a bottom-up approach"

The asset management company established in 2009 by Massimo Malvestio - Praude Asset Management - is licensed by the Malta Financial Services Authority (MFSA) and manages several funds in addition to Hermes Linder Fund SICAV, including Total Return and Low Volatility. However, as the Founder confirmed, Hermes Linder Fund remains the "spearhead" among the funds, with an accrued performance for investors (net of fees) of 11.7% - 18 years after its foundation. "We are basically long-term investors, with holdings remaining in the portfolio for years", said the Founder and Chairman of the Investment Committee: as for investment areas, he added that "in general, we really like the Star segment (now Euronext Star Milan - ed) and industrial companies. It is possible to find well-known companies of extraordinary quality. The only downside is that some of them are not very internationalized". Massimo Malvestio also stressed that Hermes Linder Fund is open to "solid and cash-generating realities", with value investing strategies featuring "a bottom-up approach" which selects "stocks of companies that have stable earnings growth, credible business, capable management, low leverage, reasonable multiples and good dividend yields". These are decisive elements that can be found not only in Italy, but also in Germany, Austria, Switzerland, the Netherlands, Spain, and other European markets, he said in conclusion.