Disciplined fixed income trading,
sized to a strict risk budget.
A Malta-domiciled, MFSA-licensed multi-fund SICAV. Its sub-funds managed by Replica SIM SpA from Milan trade the full fixed income spectrum — rates, credit, inflation-linked and emerging markets — with a disciplined, medium-to-long-term approach.
Four principles, applied across market regimes.
A repeatable process built to grow capital over time — disciplined by a strict risk budget.
Active fixed income trading
Directional, relative-value and long/short positions across rates and credit, sized to a strict risk budget over a medium-to-long-term horizon.
Disciplined capital growth
We aim to grow capital over time, within hard limits on risk and leverage.
Specialist coverage
A Milan-based team of around 30 specialists covering developed and emerging fixed income markets.
Strategy diversification
Uncorrelated sub-strategies across asset classes reduce reliance on any single market and help smooth the return profile.
Breadth across the global fixed income spectrum.
Interest-rate futures & government bonds
Developed-market rates and sovereign bonds, in cash and futures.
SSA — supranationals, sub-sovereigns & agencies
High-grade spread issuance traded across the rates–credit space.
IG & HY corporate credit
Investment-grade and high-yield credit, long and short.
Inflation-linked government bonds
Real-rate and breakeven positioning across regions.
Emerging markets
Selective exposure across hard- and local-currency sovereigns and corporate credit, sized to liquidity.
Structure at a glance.
Sub-funds managed by Replica SIM SpA — regulated by CONSOB and the Bank of Italy.