Producto

Azvalor Internacional FI

A signature fund comprised of well-run global companies with a strong and intelligible business.

Azvalor Internacional FI is a fund designed to be invested entirely in Variable Income. Its portfolio mainly comprises European companies listed on secondary markets, individually selected without preference towards company size, sector or country. In addition, up to 35% of the total exposure may be invested in issuers/markets in countries of emerging economies. In any case, independently of the location of the companies in which it is invested, it has a global exposure through the income of their businesses.

This fund follows the “Value Investing” philosophy, which is based on the identification of under-valued companies with a sound and comprehensible business, sustainable competitive advantages over time and 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 0-100% 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.

Gestores
Álvaro Guzmán de Lázaro, CFA CEO and Investment Co-director
Fernando Bernad, CFA Investment Co-director
Documentos y descargas
PERFORMANCE

12.71%

Desde origen hasta 15/01/2019

112.71 €

Valor liquidativo

-0.35 %

Cambio del día

5.54 %

En el año

-10.45%

2018

3.29%

2017

20.28%

2016

12.71 %

Desde el origen

3.68 %

1 mes

-6.27 %

3 meses

-7.35 %

6 meses

-8.45 %

1 año
Ficha del Producto
Isin

ES0112611001

Categoría del fondo

International Variable Income

Fecha de registro en la CNMV

23/10/2015

Suscripción mínima

€5,000 (€500 for individuals aged under 23)

Depositario

BNP PARIBAS Securities Services Spain Branch

Comisión de gestión

1.8% annual wealth tax

Benchmark. Evolución de 100 € invertidos
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Benchmark: MSCI Europe Total Return Net

Managers use the behaviour of the MSCI Europe Total Return Net index as its reference, comprised of more than 400 companies representing the stock exchanges of European countries including the United Kingdom, Nordic countries and Switzerland and which takes into consideration the reinvestment of net tax dividends.