Former Bestinver managers launch new Spanish AM

Former Bestinver’s head of Investments and head of Sales Fernando Bernad and Beltrán Parages have launched azValor, a new asset management firm, local website Fundspeople has reported.

The Spanish regulatory body CNMV has approved the project, which will seek an international investor base and will conduct direct investing.

Parages left Bestinver a year ago at the same time as Francisco García Paramés, while Bernard left at the beginning of 2015.

The new manager will start operations with 14 professionals, the Spanish website also reported. Bernard will lead the investment team which will consist of six analysts.

Herman Chan, until now analyst at Bestinver in China, will be part of the investment team based in Taiwan to cover Asian business.

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