Cobas AM adds fixed income to Iberia equity fund
The Spanish National Securities Market Commission (CNMV) has authorised the Iberia equity fund Cobas Iberia to expand its investment universe by investing up to 10% of its portfolio portfolio in high-yield bonds.
The Cobas Iberia fund – managed by the renowned fund manager Paco García Paramés who leads the Spanish firm Cobas Asset Management – seeks to obtain a sustained return in the time, applying a philosophy of value investing, which selects undervalued assets by the market with high potential for revaluation.
The investment strategy, which invests at least 75% of its assets in Spanish and Portuguese equity, will have the possibility from now on to buy shares in OECD countries apart from Spain and Portugal with a limit of 10%.
The Cobas Iberia fund manages some €62m in assets, and has achieved 1% profitability in 2018 and 11% in the last twelve months.