Letters to investors

Letters to investors


Quarterly letter 1Q2021

Dear co-investor: First and foremost, we sincerely hope that you and your families are well. After some difficult months for […]


Azvalor Managers FI: Update (January 2021)

Dear co-investor, On this fund, each Manager tries to avoid the constant headline noise, focusing efforts on investing in companies […]


Quarterly letter 4Q2020

Dear co-investor: Our International, Iberian and Blue Chips funds continued to have a positive performance through the fourth quarter (+24%, […]


Quarterly letter 3Q2020

Dear co-investor: During this last quarter, the Azvalor Internacional and Azvalor Blue Chips funds have consolidated their strong performance recorded […]


Quarterly letter 2Q2020

Dear co-investor: At the end of the second quarter, our funds have recovered much lost ground from the lows hit […]


Azvalor Managers FI: Update (June 2020)

Dear co-investor, First of all, I sincerely hope that you and your relatives have handled the situation of these last […]


Quarterly letter 1Q2020

Dear investor, The tables below show our funds’ performance in the first quarter of 2020.The individual return of each investor […]


Azvalor Managers FI: Update (March 2020)

Dear co-investor, Firstly, I sincerely hope that you, your relatives and friends are coping with the challenging situation we are […]


Quarterly letter 4Q2019

  Dear Investor, In 2019, Azvalor International and Azvalor Iberia produced 5.5% and 1.9% returns, performing under their respective indexes. […]


Azvalor Managers FI: Update (January 2020)

Dear investor, First of all, I would like to thank you for your interest and trust in Azvalor Managers. The […]


Quarterly letter 3Q2019

Dear investor, The main reason for writing a letter to our investors is to illustrate how we work to deliver […]


Azvalor Managers FI: Update (September 2019)

Dear investor, First of all, I sincerely appreciate your interest in Azvalor Managers. As you know, the fund was launched […]