Investment Funds

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Azvalor Iberia FI

A fund made up of Spanish and Portuguese companies whose businesses have an international vocation.

Califications

★★★

+

* Source and Copyright: Citywire. Álvaro Guzmán and Fernando Bernad are + rated by Citywire for their rolling 3 year risk-adjusted performance, for the period 31.01.2022-31.12.2024

Azvalor Iberia FI is a fund designed to be invested almost entirely in undervalued equity assets (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 Value Investment philosophy, which means buying, with a long term vision, companies at a price below their intrinsic value. The objective is to obtain a satisfactory return, sustained over time. 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.

The fund’s management objective is to achieve a sustained and satisfactory profit over time, making this fund suitable for investors that have no short-term liquidity needs and with a long-term investment horizon.

Managers

Álvaro Guzmán de Lázaro, CFA CEO and Co-director of Investment
   
Fernando Bernad, CFA Co-director of Investment
Annual accounts
Quarterly Reports
Half Year Reports
Other Communications

Performance

58.5%

Since Inception to 06/02/2025

5.1 %

annualized return

158.5 €

Net asset value

0.7 %

day change

YTD
6.3 %
2024
3.4 %
2023
23.9 %
2022
19.3 %
2021
11.3 %
2020
-24.0 %
2019
1.9 %
2018
-16.8 %
2017
19.0 %
2016
15.6 %
Since inception
58.5 %
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE PERFORMANCE

Fact sheet

ISIN
ES0112616000
Fund category
Iberian equity
CNMV REGISTRATION DATE
23/10/2015
MINIMUM SUBSCRIPTION
€5,000 (€500 under 25 years old)
Custodian
BNP Paribas S.A., Spanish Branch
Management fee
1,80%

BENCHMARK. EVOLUTION OF 100€ INVESTED

Benchmark: 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.