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FAQ - Frequently asked question

Rigsave Capital Ltd is an asset management company that has been licensed category 2 as a result of a careful validation process conducted by the Authority Supervising Financial Intermediaries.

The license passporting enables Rigsave Capital Ltd to provide their services to most of the European Countries.

Besides guaranteeing security, Rigsave Capital Ltd brings its clients in touch with the financial world, with its distinctive transparency of operation. It is like witnessing a show cooking where you can interact with the managers and the investment team, in order to understand how your money are handled in financial markets.

Licenses and registrations on supervising authorities’ websites:
MFSA
Banca d'Italia

Rigsave Capital Ltd is developing software to enable the client to sign up and subscribe to the specific services offered.

The interface will include a section gathering personal information, a section for identification via document check, and a section for risk profiling, in order to better understand the client's investment needs and design a tailored portfolio.

At the moment, the procedure is digital only in part. Follow the following steps to sign up:

  • KYC / AML
  • client onboarding
  • sign the management agreement
  • client suitability questionnaire and investment profiling
  • Multilateral agreement for External Assets Management
  • check up the existing portfolio (if any)
  • design of client's portfolio
  • reporting

To sign up, click here

Rigsave Capital Ltd never acquires possession of their clients’ money. On the contrary, orders and positions are directly handled on the owner's deposit account, with an External Asset Management agreement.

Moreover, Rigsave Capital Ltd.’s partners include major bank institutions all over Europe that guarantee the best possible conditions available on the market.

With reference to asset management below € 200,000, Rigsave Capital Ltd employs only structured products (certificates, funds, ABS, futures, options, etc.) that fit the client’s investment profile, in order to provide a smart diversification of the portfolio. Rigsave Capital Ltd applies a distribution fee to some of these products, which is detracted from management fees as a separate fee.*

For asset management that exceed € 200,000, Rigsave Capital Ltd structures investment portfolios tailored upon the client needs, by operating on financial instruments such as shares, bonds, money market, and liquid alternatives, thus guaranteeing a proper diversification depending on the client investment profile.

As for said instruments, Rigsave Capital Ltd does not collect any fee from the issuers, except for management fees and performance fees provided in the terms and conditions agreed with the client.*

For further information on service fees, click here

*Conditions will be defined in detail in the relevant management agreement

Rigsave Capital Ltd offers a free analysis of investments existing at other intermediaries. If you wish to receive a free report of your investments, contact us

An adviser will set an appointment (remote or live), to provide further information on the client’s state of the art. The service of free analysis of the portfolio managed by other intermediaries is not binding to invest with Rigsave Capital Ltd.

L’investimento minimo per poter usufruire dei servizi di gestione patrimoniale di Rigsave Capital Ltd è di € 10.000.

All products and financial instruments in which Rigsave Capital Ltd invests when managing assets, are listed and immediately payable.
Therefore, you can change the amount invested at any time, by either adding or disinvesting assets.*

*Disinvested amounts will reflect the portfolio performance in the market.

No, the financial instruments we use in our management are listed on regulated markets accessible by almost any Italian bank and can be purchased directly via internet banking or at the relevant bank branch.

The management agreement is drafted for free, as well as the analysis of investment portfolios held by other intermediaries. You can consult your own personal adviser for any need concerning your investments.

Rigsave Capital Ltd.’s income results exclusively from:

  • wrapped products, structured by the company, with an embedded fee (included in the price), the amount of which is included in the KID
  • discretionary portfolio management: management fees and performance fees (20% standard), computed on a yearly basis with the High-Water Mark
  • UCITS investment funds on behalf of the company: the amount of the management fee is reported in the KID
  • Rigsave Capital Ltd does not receive any remuneration or retrocession from third intermediaries or other issuers of instruments that have not been structured by Rigsave Capital or suggested to their clients (shares, bonds, funds, ETFs, etc.). In this way we can guarantee a fair evaluation and choice, the alignment of the client's and the company's interests, and we can reduce the conflict of interests.

The bank through which the financial instruments suggested by Rigsave Capital Ltd are purchased will act (if desired by the client) as taxpayer. Therefore, there won't be any duties when the income declaration is made.

The expenses for the purchase and sale of financial instruments will be destined for the intermediary bank and not to Rigsave Capital Ltd. When requested, the adviser will be able to assist in the search for the best bank partners or in negotiating fees with the client's bank.

*For further information on service fees, click here

Profiling is needed to understand the main characteristics of client's investments and financial goals. It allows to describe the investor in terms of risk aversion and capital situation.

The risk profile is evaluated based on the answers provided in the “client suitability questionnaire and investment profiling”, complying with the MIFID II.

These answers measure the client risk aversion, assigning points to both psychological aspects (reactions to the investments, such as the level of anxiety resulting from a downward of the market) and knowledge of financial topics.

The client risk profile is determined based on the points scored.

However, clients can choose to change their determined risk profile.

The MIFID (Market in Financial Instruments Directive) questionnaire grounds on the European Directive (directive no. 2004/39/EC of the European Parliament and the Council of 21 April 2004, and subsequent implementing directive no. 2006/73/EC) determining provisions concerning financial instruments and markets for the creation of a single, integrated and competitive European market of financial intermediation for investor protection.

The questionnaire aims to trace clients’ profiles, in order to understand their needs and suggest the investment fitting results.

Information thus gathered is and will always be reserved and protected, and used only to the purpose of providing the service.

Each investment choice made by Rigsave Capital Ltd is consistent with the profiling occurring during the onboarding, but we are aware that each client's needs and characteristics may evolve in time. Therefore, Rigsave Capital Ltd will administer the suitability questionnaire and investment profiling to their clients on a yearly basis, in order to guarantee the best possible service in line with individual characteristics. Should the profile change, the client's portfolio will be re-balanced and agreements will be signed that pertain to the new line of management. This won't result in any further expenses.

Rigsave Capital Ltd complies with anti-money laundering legislation aiming at the prevention of the use of markets and the financial system to launder any income resulting from criminal or terrorist financing activities.

To this purpose, Rigsave Capital Ltd runs regular verification checks when onboarding the client and during the provision of its services.

The company's investment philosophy can be summarized in the following concepts:

  • adopt an active portfolio management
  • buy instruments that are underestimated in the market with the purpose of preserving and increasing the purchase power of clients’ savings
  • adopt a defensive approach to avoid a decrease in assets invested in unfavourable market conditions and a more aggressive approach with positive market conditions
  • detect changes in local and global economic-financial environment, in order to better understand how they can impact clients’ portfolios
  • tackle risk through an adequate portfolio diversification
  • identify as “owners” of the companies addressed by clients’ assets during the investment process

The professionals working at Rigsave Capital Ltd have diversified skills and can evaluate a specific instrument before it is integrated in the portfolio. Specifically, Rigsave Capital Ltd.’s Investment Management Process includes five steps:

  • macro-economic analysis
  • initial market screening with proprietary filters, to search the market and perform a preliminary selection of bonds that can be included in client's portfolio.
  • micro-economic analysis (on each asset)
  • technical analysis
  • quantitative analysis

The portfolio will be re-balanced based on market conditions, whenever it will be deemed adequate and it will be re-balanced periodically so as to better exploit situations arising in the markets.

The most common methods employed to evaluate performance are the Money Weighted Rate of Return (MWRR) and the Time weighted Rate of Return (TWRR). The first one (MWRR) reflects the average growth of all assets existing in the portfolio, showing the rate of return relating the final value of the portfolio to the initial one, keeping into account intermediate cash flows (e.g., withdrawals, inflows).

The MWRR results from the following formula:

where the numerator computes final Value - initial Value - Flows, and the denominator is the average assets invested in the period.

As for the MWRR, the equation shows the client's perspective and the return will be affected by both the manager's efficiency and the investor's cash flows.

The second method (TWRR) reflects the performance from the manager's perspective, as it tries to evaluate the growth of the portfolio regardless of the effect of others’ decisions, usually made by the client and pertaining to allocations or withdrawals.

The TWRR is formulated as follows:

The products employed by Rigsave Capital Ltd managers mostly include shares, bonds, and investment certificates, to achieve the goal agreed upon by the client and Rigsave Capital Ltd alternative private bankers. Commodities EFTs, and index and option futures are used for portfolio hedging.

Rigsave Capital Ltd uses intermediaries operating as taxpayers in Italy. Therefore, the client is not required to perform any integration or action when preparing their tax return.

Investment certificates structured by Rigsave Capital Ltd are extremely effective from a tax-related perspective, as they allow a customised portfolio management to recognize accrued losses, if any. The recognition of losses is one of the topics addressed in preliminary meetings occurring between the client and Rigsave Capital Ltd alternative private bankers before designing the portfolio.

Investment certificates are securitised investment products, with an underlying optional strategy, usually on one or more securities (basket), index or, rarely, funds.

They are issued by entities with a rating investment grade (similar to the Fitch BBB rating - or higher) and can be listed or issued in private placement. The Italian markets on which certificates are listed include the SEDEX or the Cert-X segment of Borsa Italiana's EuroTLX market.

Asset-Backed Securities (ABS) are financial instruments issued as a result of securitization and having underlying (liquid or illiquid) assets. Their price is higher, lower, or equal to the face value. They have an expiration date and pay a regular (fixed or variable) coupon, like a bond. ABS (or MBS in case of an underlying mortgage portfolio) are issued by special companies called SPVs (Special Purposes Vehicles).

Securitization aims to create negotiable and easy-to-exchange securities, from a portfolio of assets (including properties, loans, mortgages, and trade receivables).

Rigsave Capital Ltd.’s policy aims to limit expenses and fees borne by the client. Products like shared investment funds, which include an embedded fee, are usually excluded from the company’s management, unless otherwise agreed with the client.

The UCITS Directive (Undertakings Collective Investment in Transferable Securities) is a group of laws issued via European Directive, which regulate UCITS funds investing in assets listed on public stock exchanges and regulated by markets.

UCITS funds comply with European regulations by respecting three critical aspects:

  • they are subjected to the same rules in all the States of the European Union, hence they are freely distributed in all European countries
  • they can invest in financial instruments provided by law (usually on instruments listed on regulated market)
  • they include limitations on investments aiming to protect investors, which explains why UCITS funds are also available for retail clients

This service is offered by the Management Company to their clients in order to manage their savings, upon mandate. The company manages the capital invested autonomously, in compliance with specific terms and methods previously agreed and decided with the client.

With Managed Savings(the one resulting from investments in Asset Management) the taxation of gains and financial income grounds on the accrual criterion. As a result, the entire investment within the AM (including accrued coupons, dividends collected and expenses resulting from management) is subjected to taxation, not its single components. In this case, the substitute tax does not apply to single gains and other income realized within the management. On the contrary, it applies to the management result accrued at the end of each fiscal year (as at 31 December, each year) by the intermediary authorized and appointed for management by the taxpayer (in our case, Rigsave Capital Ltd). Therefore, the transactions made through periodical re-balancing won't generate gains or losses. Taxes on capital gain will be applied at the end of the year or in case of (partial or total) disinvestments. In the event that losses arise, these cannot be compensated for in the 4 subsequent years (even with subsequent gains of the same Asset Management).

With Administrated savings, each single instrument has a fiscal significance. Therefore, each re-balancing action performed in the portfolio results in gains or losses, just like a (partial or total) disinvestment. The intermediary acts as a taxpayer, meaning that s/he will calculate and pay the due taxes on behalf of the investor.

From the perspective of investor's safety, what are the main differences?Both Managed and Administrated savings provide the same guarantees to the investor.

Rigsave Capital Ltd currently provides three lines of management: conservative, flexible, and dynamic. Each one of them is suggested to the client based on the profile resulting from the suitability questionnaire and on the MIFID.

Rigsave Capital Ltd is in the process of developing a further division of risk profiles for different lines of management.

Once the onboarding and profiling processes are completed, the client will be assigned with an investment portfolio. Then, Rigsave Capital Ltd will directly handle the investment, performing periodical re-balancing operations, if this is deemed as a needed action by Investment Board, in compliance with the binding terms provided by the mandate. The client won't need to authorize any operation but will receive regular reports on the portfolio trends.

Yes, you can liquidate your investments at any time and without any further expenses. Following the request of partial disinvestment or portfolio liquidation, the amount will be returned to the client's current account via wire transfer.

No, no exit fee is required for disinvestments.

Thanks to its category 2 licence, Rigsave Capital Ltd can manage any type of investment funds, including both UCITS and AIFs (Alternative Investment Funds).

Thanks to its licence, Rigsave Capital Ltd can manage third-party funds, as regards the day-by-day management, but it is not involved in investment choices delegated to the investment advisor selected by the sponsor. The duties assigned to Rigsave Capital Ltd include the management of risk and the verification of parameters provided by the law and the fund prospectus.

As for distribution, Rigsave does not distribute third-party fund shares, unless the fund's track record is not optimal and its managing philosophy does not match Rigsave Capital's one.

Rigsave Capital Ltd established Rigsave Sicav S.A., a multi-fund SICAV. Thanks to this company, we will create UCITS funds for clients and the company will be used for asset management, by deducting the client's subscription fee from management fees.

The UCITS fund launched and managed by Rigsave Capital Ltd is called Rigsave Global Equity Value. Moreover, we also manage an alternative closed fund, under the name Rigsave Absolute Alpha Fund.

Rigsave Capital Ltd funds can be purchased at the bank where you hold your current account or at partner banks.
For further information on the purchase of fundsClick here

Thanks to the experience of its team and management, Rigsave Capital Ltd can support sponsors in the creation of an investment fund or in a securitization.

Indeed, thanks to the relationships built over the years, we can help you structure your portfolio and search for the service providers that fit your project, and we can provide all our services available thanks to our licence.

For further details: Structured Financial Products

This is a decision taken at the company's discretion. Only in those circumstances that the investment management and performance prove the efficiency of the investment fund, Rigsave Capital Ltd might decide to distribute the fund or the product throughout its distribution network.

The services provided by Rigsave Capital Ltd include:

  • structuring
  • management company
  • investment management
  • risk management
  • distribution
  • initiator

In order to evaluate the possibility to collaborate with potential sponsors, Rigsave Capital Ltd requires them to compile a questionnaire so as to achieve a deeper comprehension of the idea underlying the project.

Therefore, we kindly ask you to contact us compiling contact form ask more information

If the idea is approved in a first phase of selection, the client will be contacted to make a (remote or live) appointment, in order to discuss requirements and working steps in detail.

No, Rigsave Capital Ltd never comes into possession of its clients’ money.

The relationship with Rigsave Capital Ltd will ground on the management service, meaning that it will focus on the creation and periodical re-balancing of client's portfolio, according to a pre-determined strategy.

Rigsave Capital Ltd is authorized to exercise the free provision of services in many States of the European Union:

  • Italy
  • Luxembourg
  • Malta
  • Germany
  • France
  • Spain
  • Netherlands
  • Portugal

Specifically, Rigsave Capital Ltd is authorized and regulated by Malta Financial Services Authority (MFSA) e dalla Banca d’Italia.

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