The world of alternative investments through Eltif 2.0 is increasingly accessible to small savers. An opportunity to diversify in the same way that institutional investors have done for years and try to provide, despite the added risk, greater returns to your portfolio. Also taking up the challenge is Fundstore, the funds marketplace and managed savings solution of Ifigest Banking Group, which has begun the launch of the first open architecture platform in Italy dedicated to subscribing to Eltif 2.0 funds, with a fully digital experience and without additional intermediary costs.
For now, savers, by accessing the platform, enter a direct and multi-manager digital channel after opening a current account that pays deposits (Euribor rate – 0.70) and from here they can subscribe to four products with different characteristics and foundations, developed by four leading asset managers (Amundi, Apollo, Black Rock and JPMorgan).
According to a study carried out by Scope Explorer, the European Eltif market, with assets of around 20 billion euros at the end of 2024, is expected to triple by 2027. In Italy – the second largest country in terms of this market after France – 95% of collections already come from individual investors, but until now direct and independent digital channels have not existed. Fundstore, with this new initiative, aims to fill this gap, opening up new diversification prospects for Italian retail customers. «European long-term investment funds represent a real innovation that allows everyone to invest in unlisted companies and projects, thereby opening the doors to a wide market. In addition, they are a source of portfolio diversification and a perfect tool for planning long-term investments, such as investments for future retirement”, emphasizes Gianni Bizzarri, president of Banca Ifigest acting as placement agent. «Since its debut in 2000, Fundstore has stood out as a pioneer in the digital investment landscape. Today Fundstore confirms this role by launching the first Italian digital platform dedicated to direct placement of Eltif funds which, with historical returns approaching or exceeding double digits, has proven to be very profitable in scenarios of low interest rates and stock markets is at its peak right now.”
Democratize investment in unlisted sectors
This initiative represents a strategic step forward in the democratization of private markets and a new chapter for the entire European investment ecosystem, and was born in response to the new European regulatory framework (Eltif 2.0) which makes these instruments more flexible and transparent, making them ultimately accessible also to non-institutional investors. Eltif is a long-term alternative fund designed to channel resources into real economic assets – SMEs, infrastructure and innovative projects – that have historically been reserved for professional investors. With the introduction of Eltif 2.0 regulations, the sector has experienced a strong acceleration: reduced entry thresholds, greater liquidity and the birth of evergreen vehicles now make these instruments compatible with the needs of retail investors. Although these products were created to encourage long-term savings and therefore it is not recommended to cancel the investment after a few months or a few years, compared to previous versions, Eltif2.0 is evergreen as it provides a threshold of access but most importantly withdrawal of investment.
Different thresholds and profiles
Users will have the possibility to choose between four different investment profiles in terms of minimum holding period. Durations range from three months for the Amundi fund to four months for JpMorgan while in between there are BlackRock and Apollo, both of which are classified in the investment field with holding periods exceeding one year for investors willing to accept longer minimum durations in exchange for diversified exposure to alternative strategies. Differentiation is also based on an entry threshold starting from a thousand euros (Amundi fund), and in any case will not exceed 10 thousand (Apollo, BlackRock). Not only that. The investor will be able to find the solution that best suits his risk profile, without giving up the characteristics that make Eltif 2.0 compatible with retail logic, namely the limited minimum investment amount, the subscription period, the possibility of redemption during the life of the product and the competitive management fee (2.8% on average to which, however, a performance fee is added which must be checked in the information prospectus).
