Private markets at the click of a button on the Fundstore platform

The world of alternative investments through Eltif 2.0 is increasingly within reach of the small saver. An opportunity to diversify along the lines of what institutional investors have been doing for many years and to try to bring, for a little more risk, more return to one's portfolio. Also taking up this challenge is Fundstore, the marketplace for funds and asset management solutions of the Ifigest Banking Group, which has launched the first open-architecture platform in Italy dedicated to the subscription of Eltif 2.0 funds, with an entirely digital experience and no additional brokerage costs.

For the time being, savers, by accessing the platform, enter a direct, multi-manager digital channel after opening a current account that remunerates deposits (Euribor rate - 0.70) and from there they can already subscribe to four products with different characteristics and underlyings, developed by four leading asset managers (Amundi, Apollo, Black Rock and JPMorgan).

According to a study by Scope Explorer, the European Eltif market, with assets of around EUR 20 billion at the end of 2024, is set to triple by 2027. In Italy - the second largest country in this market after France - 95 per cent of inflows already come from individual investors, but until now a direct and independent digital channel has been lacking. Fundstore, with this new initiative, aims to bridge this gap, opening up new diversification prospects for Italian retail clients. "European long-term investment funds represent a real innovation that allows everyone to invest in unlisted companies and projects, opening the door to a vast market. In addition, they are both a source of diversification for the portfolio and a perfect tool for planning long-term investments, such as those for the future retirement" stresses Gianni Bizzarri, president of Banca Ifigest, which acts as placement agent. "Since its debut in 2000 Fundstore has distinguished itself as a pioneer in the digital investment landscape. Today it confirms this role by launching the first Italian digital platform dedicated to the direct placement of Eltif funds, which, with historical returns approaching or exceeding double digits, are proving to be particularly advantageous in the current scenario of low rates and stock markets at their peak".

The initiative represents a strategic step forward in the democratisation of private markets and a new chapter for the entire European investment ecosystem, and comes in response to the new European regulatory framework (Eltif 2.0) that has made these instruments more flexible and transparent, and therefore finally accessible to non-institutional investors. Eltifs are long-term alternative funds designed to channel resources into real economy assets - SMEs, infrastructure and innovative projects - historically reserved for professional investors. With the introduction of Eltif 2.0 regulations, the sector has experienced a strong acceleration: lower entry thresholds, greater liquidity, and the emergence of evergreen vehicles now make these instruments compatible with the needs of the retail investor. Although these products are designed to incentivise long-term savings, and it is therefore inadvisable to disinvest after a few months or a few years, compared to the previous version, Eltif2.0 are evergreen in that they have entry thresholds but above all disinvestment thresholds.

The user will be able to choose between four investment profiles that differ by minimum holding period. These range from three months for the Amundi fund to four months for the JpMorgan fund, while in between there are those of BlackRock and Apollo, both classified in the area of investments with a holding period of more than a year for investors willing to accept a longer minimum duration in exchange for diversified exposure to alternative strategies. There is also a difference based on the entry threshold, starting at one thousand euros (Amundi fund), and not exceeding 10 thousand in any case (Apollo, BlackRock). Not only that. The investor will be able to find the solution best aligned with his risk profile, without renouncing the characteristics that make Eltif 2.0 compatible with retail logic, i.e. low minimum investment amounts, subscription windows, the possibility of redemption over the life of the product and competitive management costs (an average of 2.8% to which, however, performance commissions are added, which should be checked in the prospectuses).