azValor internacional FI is a fund that invests 100% in Equities. Its portfolio is made up of mainly European listed companies traded on secondary markets, selected regardless of their size, sector or country. It may also invest 35% of its total exposure in emerging country issuers/markets. The global exposure of these businesses is defined by their business revenues.
This funds applies the "Value Investing" investment philosophy based on searching for undervalued companies that are good businesses, easy to understand, with sustainable competitive advantages over time, high return on capital employed (ROCE), led by quality management teams and whose intrinsic value is not reflected in their share price. It aims to take advantage of short-term market irrationality, using volatility as an opportunity with the conviction that in the long term and being patient the market will recognise their value.
Risk exposure will be between 0-100% of total exposure - it does not invest in derivative instruments.
It is a fund strongly linked to the high conviction approach of its manager, Fernando Bernad. His goal is to obtain satisfactory and sustained return over time thus being aimed at investors with a long-term time horizon.Benchmark:MSCI Europe Total Return Net
The fund’s benchmark is the MSCI Europe Total Return Net Index, made up of more than 400 representative companies traded on European stock exchanges, including the United Kingdom, Nordic countries and Switzerland and takes into consideration the reinvestment of dividends net of tax.