The closed-end Modern Art Fund “Scudo Arte Moderna”
Scudo Arte Moderna is a mutual fund investing in works and objects of art. It is a closed-end alternative fund reserved for professional clients, in accordance with Regulation no. 2006-03 issued by the Central Bank of the Republic of San Marino. Such alternative fund invests in artworks with a medium-long term investment horizon and presents a high risk level.
Fund units may be subscribed to at several subscription stages. Any subsequent issues will take place semi-annually, until the expiry of the seventh year from the date of the first annual financial statements.
Redemption of Fund units may be requested upon maturity of the Fund or at predetermined deadlines.
The Fund is an alternative one as the Fund manager may derogate from all the limits and prohibitions that the above-mentioned Regulation no. 2006-03 imposes on other types of mutual funds.
The Fund is reserved for professional clients, that is to say entities and businesses operating in the sector, governments and international institutions, private individuals possessing the necessary competence, knowledge and expertise in making investments and assessing related risks who thus fall under the definition of “Professional Clients” as laid down in the relevant San Marino legislation.
The "Management Regulations for the Scudo Arte Moderna Fund” , approved by the San Marino Central Bank, describes the fund specifications and sets forth the operating criteria.
The Scudo Arte Moderna Fund seeks capital growth in the medium-long term by investing in a diversified portfolio of valuable works of art.
Max 80% of the the Scudo Arte Moderna Fund portfolio is invested in works of art: max 10% thereof is invested in emerging artists, while the remaining 20% is maintained in liquid assets, i.e. cash and short-term bonds.
Investment strategies may include, but are not limited to, price/availability ratio valuation and potential upside, past performance, active portfolio management, obtaining updated information on the art market and future plans and strategy, scores & ratings making use of price inefficiencies and quality control.
Scudo Investimenti SG spa will buy on behalf of the Fund works by outstanding to exceptional artists, highly sought works with proven track records, and pieces that have been highly rated by reputed art critics.
