BANOR SICAV | Discover the whole fund range →
Euro Bond Absolute Return, European Dividend Plus, Greater China Equity, Mistral L/S Equity, Raffaello PIR, Rosemary, Volta L/S Equity
FUNDS RANGE
Banor Capital is the investment manager of Banor SICAV and Aristea SICAV, two harmonised (SICAV UCITS V) Luxembourg investment companies offering a range of high value-added products, catering to diverse investment styles, markets and asset classes. Banor Capital is also the investment manager of SICAV RAIF Banor Alternative Assets, a Luxembourg umbrella company for reserved alternative investments, and of the Alternative Investment Platform – Aristea Multi Strategy Fund.
ARISTEA SICAV | Discover the whole fund range →
Chiron Total Return, FIM Gem Debt, New Frontiers Equity, Short Term
BANOR ALTERNATIVE ASSETS | Discover the whole fund range →
Enhanced Carry Hedged Opportunity (E.C.H.O.), Private Opportunities, Special Situations, Tech Growth
ARISTEA MULTI STRATEGY FUND | Discover the fund →
BANOR SICAV EURO BOND ABSOLUTE RETURN
European Bonds
Investment Manager: Francesco Castelli, Head of Credit Strategy at Banor
The strategy focuses on the European Credit market, with a duration exposure below 3 years and an average credit exposure in the BBB-BB range. The bottom-up selection process incorporates an ESG consideration with a “best-in- class” approach.
BANOR SICAV EUROPEAN DIVIDEND PLUS
European Equities
Investment Manager: Gianmarco Rania, Head of Equities at Banor Capital
A Long only fund managed using the value approach with active exposure to the European recovery. The portfolio is built up from the fundamentals, with the aim of creating a balance between growth potential and capital preservation. Derivatives for hedging are only occasionally used, to reduce portfolio volatility.
BANOR SICAV GREATER CHINA EQUITY
Value Absolute Return with focus on the Chinese market
Advisor: Dawid Krige, Cederberg Capital, with 20 years of investment experience in Asia and emerging markets
Fund managed with a fundamentals-based investment style and long-term view. The portfolio is relatively concentrated. In-depth analyses, rigorous due diligence and analysts on the ground to monitor the risk of fraud.
BANOR SICAV MISTRAL L/S EQUITY
Value Long Short Equities – Europe and USA
Advisor: Luca Riboldi, CIO at Banor SIM with 30 years of experience and Angelo Meda, Head of Equities and ESG Research at Banor SIM
A fund managed “bottom-up” with focus on fundamentals, a long-term view and a relatively diversified portfolio to grasp the best opportunities and generate alpha. Investment ideas are generated by managers’ experience and company meetings. We perform rigorous analysis and on field due diligence.
BANOR SICAV RAFFAELLO PIR
Pir Alternative Equity Italy Small/Mid Cap
Advisor: Luca Riboldi, CIO at Banor SIM with 30 years of experience and Angelo Meda, Head of Equities and ESG Research at Banor SIM
The fund was created following the opportunity offered by the Alternative PIR legislation (Italian Relaunch Decree no.34/2020). The fund invests in the real economy following a PIR-compliant strategy and offers the possibility to take advantage of PIRs’ tax incentives.
BANOR SICAV ROSEMARY
Flexible, with the focus on sector leaders
Fund investing in different types of security using diversified strategies to grasp opportunities, with the focus on high-growth companies. The aim is to protect and increase investors’ capital in the medium term, with medium-high discount rates and an average correlation to the equity markets.
BANOR SICAV VOLTA LONG SHORT EQUITY
Equity long short focusing on the global energy transition
Advisor: Will Smith, co-CIO di Westbeck Capital, asset management company based in London and founded in June 2016
The long/short strategy takes advantage of cyclicality in each segment. This fund has an excellent risk/returns ratio, the portfolio is based on a fundamental industry analysis, a repeatable investment process and is concentrated on core holdings as well as opportunistic trading positions. The aim is to balance growth potential with capital preservation.
ARISTEA SICAV CHIRON TOTAL RETURN
Flexible, with the focus on European markets
Investment Manager: Francesco Castelli, Head of Credit Strategy at Banor
This fund can invest in equity and bonds issued by both European and non-European companies and in investment funds, options and futures with a view to protecting portfolio value or increasing the level of investment. Investment decisions are based on in-depth analyses of companies and due diligence on the ground.
ARISTEA SICAV FIM GEM DEBT
Emerging Markets Bonds
Investment Manager: Francesc Balcells, FIM partners, asset management company specialised in emerging and frontier markets
The fund mainly invests in global EM and frontier debt markets. The strategy uses an unconstrained, high conviction approach to investing, with a framework that ensures high diversification while protecting against downside risk. Alpha generation is based on a bottom-up fundamental analysis of the EM issuers, enhanced with exposure to frontier opportunities.
ARISTEA SICAV NEW FRONTIERS EQUITY
Frontier Markets Equities
Advisor: Andrea Federici, Silk Invest, independent boutique company with more than 15 years of experience in Frontier Markets Equities investments
This fund invests primarily in the stocks of companies domiciled in, or conducting most of their business in, the “Frontier Markets”. These are less developed and accessible than the emerging markets. Investment decisions are based on qualitative and quantitative analyses that in turn are based on regular assessments of investment flows on the general market and/or of individual companies in which the fund invests.
ARISTEA SICAV SHORT TERM
Short term investments
Investment Manager: Francesco Castelli, Head of Credit Strategy at Banor
This fund invests mainly in deposits in European credit institutions with the aim of obtaining returns in line with interest rates on deposits with maturity equal to or less than one year. Investment decisions are based on a meticulous analysis of the banking institutions’ creditworthiness during the deposit period and on the level of interest paid on the deposits.
BANOR ALTERNATIVE ASSETS E.C.H.O.
Alternative fund investing in government debt securities with fixed or variable rates
The objective of the fund is to achieve, over the medium term, a positive capital growth and absolute returns in all market conditions. Low risk by taking advantage of the low volatility of invested assets. Banor E.C.H.O. team has a solid track record in Trading, Asset and Risk Management.
BANOR ALTERNATIVE ASSETS PRIVATE OPPORTUNITIES
Fund on Private Markets
The fund invests in a diversified portfolio of primary and secondary transactions on the Private Equity and Private Debt markets, directly or indirectly through Target Funds.
BANOR ALTERNATIVE ASSETS SPECIAL SITUATIONS (I & II)
Fund of credit and real estate special situations
A closed-end fund for professional investors. The fund targets investment opportunities in illiquid assets (distressed assets), with a particular focus on secured loans and/or real estate assets in prime locations, mainly in UK, Italy, and Spain. BSS I closed on 30 April 2019, with capital commitments of over €115 million. BSS II closed on 31 March 2024, with capital commitments of over €245 million.
BANOR ALTERNATIVE ASSETS TECH GROWTH
Private Equity fund with focus on technologies
Investment opportunities in primary and secondary transactions on the Private Equity and through Target Funds.
The main focus will be on target funds, domiciled or focused in Europe and US, exposed to high growth sectors including but not limited to software, hardware, fin-tech, artificial intelligence, robotics, e-commerce, electric vehicles, smart energy, software-as-a-service.
ARISTEA MULTI STRATEGY
Fund of alternative funds
The aim of the fund is to seek managers with very high active share and high tracking error relative to their benchmarks, identified through an extensive Industry Network and also Internal Screening processes. The opportunities that arise are often contrarian, and the fund is usually looking for market inflection points and/or new & emerging trends.
BANOR SICAV EUROPEAN DIVIDEND PLUS
European Equities
Investment Manager: Gianmarco Rania, Head of Equities at Banor Capital
A Long only fund managed using the value approach with active exposure to the European recovery. The portfolio is built up from the fundamentals, with the aim of creating a balance between growth potential and capital preservation. Derivatives for hedging are only occasionally used, to reduce portfolio volatility.
BANOR SICAV GREATER CHINA EQUITY
Value Absolute Return with focus on the Chinese market
Advisor: Dawid Krige, Cederberg Capital, with 20 years of investment experience in Asia and emerging markets
Fund managed with a fundamentals-based investment style and long-term view. The portfolio is relatively concentrated. In-depth analyses, rigorous due diligence and analysts on the ground to monitor the risk of fraud.
BANOR SICAV MISTRAL L/S EQUITY
Value Long Short Equities – Europe and USA
Invesment Advisor: Luca Riboldi, CIO at Banor SIM with 30 years of experience and Angelo Meda, Head of Equities and ESG Research at Banor SIM
A fund managed “bottom-up” with focus on fundamentals, a long-term view and a relatively diversified portfolio to grasp the best opportunities and generate alpha. Investment ideas are generated by managers’ experience and company meetings. We perform rigorous analysis and on field due diligence.
BANOR SICAV VOLTA LONG SHORT EQUITY
Equity long short focusing on the global energy transition
Advisor: Will Smith, co-CIO di Westbeck Capital, asset management company based in London and founded in June 2016
The long/short strategy takes advantage of cyclicality in each segment. This fund has an excellent risk/returns ratio, the portfolio is based on a fundamental industry analysis, a repeatable investment process and is concentrated on core holdings as well as opportunistic trading positions. The aim is to balance growth potential with capital preservation.
ARISTEA SICAV NEW FRONTIERS EQUITY
Frontier Markets Equities
Investment Advisor: Andrea Federici, Silk Invest, independent boutique company with more than 15 years of experience in Frontier Markets Equities investments
This fund invests primarily in the stocks of companies domiciled in, or conducting most of their business in, the “Frontier Markets”. These are less developed and accessible than the emerging markets. Investment decisions are based on qualitative and quantitative analyses that in turn are based on regular assessments of investment flows on the general market and/or of individual companies in which the fund invests.
BANOR SICAV EURO BOND ABSOLUTE RETURN
European Bonds
Investment Manager: Francesco Castelli, Head of Credit Strategy at Banor
The strategy focuses on the European Credit market, with a duration exposure below 3 years and an average credit exposure in the BBB-BB range. The bottom-up selection process incorporates an ESG consideration with a “best-in- class” approach.
ARISTEA SICAV FIM GEM DEBT
Emerging Markets Bonds
Investment Manager: Francesc Balcells, FIM partners, asset management company specialised in emerging and frontier markets
The fund mainly invests in global EM and frontier debt markets. The strategy uses an unconstrained, high conviction approach to investing, with a framework that ensures high diversification while protecting against downside risk. Alpha generation is based on a bottom-up fundamental analysis of the EM issuers, enhanced with exposure to frontier opportunities.
BANOR SICAV ROSEMARY
Flexible, with the focus on sector leaders
Fund investing in different types of security using diversified strategies to grasp opportunities, with the focus on high-growth companies. The aim is to protect and increase investors’ capital in the medium term, with medium-high discount rates and an average correlation to the equity markets.
ARISTEA SICAV CHIRON TOTAL RETURN
Flexible, with the focus on European markets
Investment Manager: Francesco Castelli, Head of Credit Strategy at Banor
This fund can invest in equity and bonds issued by both European and non-European companies and in investment funds, options and futures with a view to protecting portfolio value or increasing the level of investment. Investment decisions are based on in-depth analyses of companies and due diligence on the ground.
ARISTEA SICAV SHORT TERM
Short term investments
Investment Manager: Francesco Castelli, Head of Credit Strategy at Banor
This fund invests mainly in deposits in European credit institutions with the aim of obtaining returns in line with interest rates on deposits with maturity equal to or less than one year. Investment decisions are based on a meticulous analysis of the banking institutions’ creditworthiness during the deposit period and on the level of interest paid on the deposits.
BANOR ALTERNATIVE ASSETS E.C.H.O.
Alternative fund investing in government debt securities with fixed or variable rates
The objective of the fund is to achieve, over the medium term, a positive capital growth and absolute returns in all market conditions. Low risk by taking advantage of the low volatility of invested assets. Banor E.C.H.O. team has a solid track record in Trading, Asset and Risk Management.
BANOR ALTERNATIVE ASSETS PRIVATE OPPORTUNITIES
Fund on Private Markets
The fund invests in a diversified portfolio of primary and secondary transactions on the Private Equity and Private Debt markets, directly or indirectly through Target Funds.
BANOR ALTERNATIVE ASSETS SPECIAL SITUATIONS (I & II)
Fund of credit and real estate special situations
A closed-end fund for professional investors. The fund targets investment opportunities in illiquid assets (distressed assets), with a particular focus on secured loans and/or real estate assets in prime locations, mainly in UK, Italy, and Spain. BSS I closed on 30 April 2019, with capital commitments of over €115 million. BSS II closed on 31 March 2024, with capital commitments of over €245 million.
BANOR ALTERNATIVE ASSETS TECH GROWTH
Private Equity fund with focus on technologies
Investment opportunities in primary and secondary transactions on the Private Equity and through Target Funds.
The main focus will be on target funds, domiciled or focused in Europe and US, exposed to high growth sectors including but not limited to software, hardware, fin-tech, artificial intelligence, robotics, e-commerce, electric vehicles, smart energy, software-as-a-service.
BANOR SICAV RAFFAELLO PIR
Pir Alternative Equity Italy Small/Mid Cap
Advisor: Luca Riboldi, CIO at Banor SIM with 30 years of experience and Angelo Meda, Head of Equities and ESG Research at Banor SIM
The fund was created following the opportunity offered by the Alternative PIR legislation (Italian Relaunch Decree no.34/2020). The fund invests in the real economy following a PIR-compliant strategy and offers the possibility to take advantage of PIRs’ tax incentives.
ARISTEA MULTI STRATEGY
Fund of alternative funds
The aim of the fund is to seek managers with very high active share and high tracking error relative to their benchmarks, identified through an extensive Industry Network and also Internal Screening processes. The opportunities that arise are often contrarian, and the fund is usually looking for market inflection points and/or new & emerging trends.