Spain’s N+1 SYZ Gestión launches its first fund

Spain’s N+1 SYZ Gestión has launched its first investment fund, Murano Patrimono.

The move means the Spanish firm has entered the fund management business since, until now, it was exclusively focused on the management of Sicavs.

Murano Patrimono is a fund of funds with 40% exposure to international equities. The rest will be invested in public and private fixed income, according to the fund prospectus submitted to the Spanish regulator CNMV.

The fund primarily will primarily invest in developed markets, preferably members of the EU. However, it will be able to invest up to 25% in emerging markets.

Maximum exposure to currency risk is 40%, as investment in non-harmonized funds will not exceed 30%. The fund aims to offer a targeted volatility rate of up to 10% annually.

Alicia Villegas
Alicia Villegas speaks Spanish and Italian and is Iberia Correspondent for InvestmentEurope. She was shortlisted for the Rising Star Award at the British Media Awards 2017 and Writer of the Year at the PPA Independent Publisher Awards 2016. Previously, she worked for almost three years at the seafood business website Undercurrent News as a market reporter. In Spain, she also worked for more than five years for several media outlets.

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