Azvalor Capital FI invests more than 90% of the total exposure in public/private fixed income (including listed or unlisted, liquid money market instruments), and the remainder in equities of any capitalization and sector, from issuers/markets mainly OECD (preferably euro zone), with the possibility of investing up to 40% of the total exposure in emerging issuers/markets.
Exposure to currency risk will be 0-100% of total exposure.
The objective is to seek a satisfactory return by investing in assets undervalued by the market, with high appreciation potential in the manager’s opinion.
At the date of purchase, the issues will have high credit quality (minimum rating A-) or medium (between BBB+ and BBB-) or, if lower, the rating of the Kingdom of Spain at any given time, and up to 40% of the total exposure may be invested in low credit quality (below BBB-) or unrated. The average duration of the fixed income portfolio will be less than 2 years.
