Paramés’ boutique takes over fund launched by Inversis
Cobas Seleccion fund, which follows a value-investing style, has finally been integrated into Cobas Asset Management, the boutique of the renowned Spanish fund manager Francisco García Paramés.
The equity fund, which will invest more than 80% of its assets in international stocks, was previously launched by Banca March-owned Inversis Gestión, under the guidance of Paramés.
Following the announcement of Paramés’ new boutique in October last year, the fund manager reached an agreement with Inversis to launch the equity fund. The firms agreed that the fund would then be transferred to Cobas AM once it was approved by the Spanish regulator CNMV.
The collaboration between Inversis and Paramés included a commitment to keep Inversis’ specialised depository and administration services in Cobas AM.
From this moment, the five funds of the boutique will have an initial minimum investment of one share, instead of the previous €5,000 minimum investment rquired for Cobas Seleccion and the €25,000 required for the other four funds.
Since its launch, the new boutique has reached €695m in AUM.