Azvalor Iberia FI is a fund designed to be invested almost entirely in Variable Income (at least 75%). Its portfolio comprises Spanish and Portuguese companies listed on secondary markets, selected individually without preference to their size or sector (investment into stocks from Spanish issuers will not exceed 90%).
This fund follows the philosophy of “Value Investing,” based on the identification of undervalued companies with a sound and comprehensible business, sustainable competitive advantages over time and with high Returns on Capital Employed (ROCE), led by strong management teams and whose intrinsic value is not reflected in their share price. It aims to turn short-term market irrationality to its advantage, using volatility as an opportunity, with the conviction that, with patience and in the long term, the market will recognise their value.
The exposure to currency risk will be 0-25% of the total exposure and it will not invest in derivative instruments.
This is a fund that is closely connected to its managers, Álvaro Guzmán de Lázaro and Fernando Bernad, whose substitution would imply a change in the investment policy. The management objective is to achieve sustained and satisfactory profit over time, making this fund suitable for investors who take a long-term view.
18.24%Desde origen hasta 15/01/2019
118.24 €Valor liquidativo
0.88 %Cambio del día
4.48 %En el año
18.24 %Desde el origen
3.58 %1 mes
-2.2 %3 meses
-13.22 %6 meses
-15.7 %1 año
Iberian Variable Income
€5,000 (€500 for individuals aged under 23)
BNP PARIBAS Securities Services Spain Branch
Madrid Stock Exchange Total Return Index (ITGBM) (85%) and the Portuguese PSI 20 Total Return Index (15%).
The Madrid Stock Exchange Total Return Index (ITGBM) is an index covering all of the shares traded on the continuous market of the Madrid Stock Exchange. The PSI 20 Total Return is an index comprising the 53 top shares traded on the Lisbon Stock Exchange. Both indexes take the reinvestment of net tax dividends into account.