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22 Mar 2021 5 min

Money: "The world's first fund to invest in classic cars arrives"

It is the first fund in the world that allows investment in classic cars: the Klassik Fund, created by the Swiss group Hetica. The entire sector is worth 2.3 billion euros in Italy alone.

It is the first fund in the world that allows you to invest in classic cars. An original form of investment, all dedicated to those who want to have a different approach to make their savings pay off.

The Klassik Fund is created by the Swiss group Hetica. The price of each car will start from 30 thousand euros and go up to 6 million. The selection will also be made thanks to a network of technicians, formed in a committee, who are deeply linked to the Italian history of cars. The committee is made up of Cesare Florio, former Ferrari sports director and winner of 18 world titles with Lancia and Fiat, Mariella Mengozzi, director of the "Avvocato Giovanni Agnelli" car museum in Turin, Cristina Lenoci, administrative lawyer and former vice-president of the Executive Committee of the Salone della Giustizia and Giuliano Bensi, president of Camet in Florence (the Tuscan vintage car and motorbike club) and president of the Club Commission of Asi-Torino (the Italian historic car club).

The fund was developed during the Covid-19 pandemic but it will soon be possible to buy certificates that have been listed on the Frankfurt Stock Exchange and will have a nominal value of 10 thousand euros. In addition to this opportunity, the fund can also be subscribed in three classes:

  • A (with investments exceeding 500 thousand euros),
  • B (more than 125,000 euros),
  • C (for those who leave car ownership to the fund).

According to Carlo Calarco, president of Hetica Capital, the goal is to raise €200 million.

The cars that make up the fund's reserves are stored in Lugano, in a hi-tech facility that allows them to be maintained in complete safety and efficiency. The rule on which the fund is based is to sell them at the right time, also thanks to international auctions in which they will be able to demonstrate their full value.

But that's not all: the fund also aims to get historic cars to take part in educational events and competitions, so as to enhance their value, increase their market value and relaunch what is a real car culture.

Why invest in classic cars

"Our cars are works of art in motion - explains to the promoter of the initiative, Carlo Calarco, with a long experience as a financial consultant in Italy - According to our study centre, the world of classic cars, in Italy alone, counts on a market of 2.3 billion euros a year, for contests, maintenance, exchanges, spare parts, rallies".

The fund is licensed in Luxembourg and placeable in Europe, Switzerland, the United Kingdom, Canada and the United States of America. "It is the first fund of its kind in the world, there are no others except those personal collections of people who keep them privately and are very jealous of them," he adds.

Investment in the car sector has produced, in the last five years, a "constantgrowthof 16% per year, with peaks of 33% for particularly rare and sought-after models", continues Calarco.

For the selection of cars, the Fund mainly refers to the definition of a historic vehicle by Fiva, the Fédération Internationale des Véhicules Anciens (the International Federation of Vintage Vehicles), according to which a car is defined as vintage when it is at least 30 years old and is preserved and maintained in a "historically correct" state, not used as an everyday means of transport and therefore becomes part of the technical and cultural heritage.

Classic cars, +189% in value in the last 10 years

Today in Italy there are, according to Asi/Fiva certification, 375,000 historical cars. The nations most interested in this world (made up of researchers and collectors) are the United Kingdom, Belgium, Holland, France, Germany, the USA and Japan.

According to theKnight Frank Luxury Investment index, the collector car industry has seen a 189% increase in value over the past 10 years.

Basically, it is a market to be known, explored and on which it is possible to plan an investment path.

Article written by
Author: Giampiero Valenza