Spanish value equity investment manager azValor Asset Management has launched a global equity fund to be sub-managed by four different US asset managers.
azValor Managers will be co-managed by Javier Sáenz de Cenzano and the four managers selected by him: Donald Smith & Co, Mittleman Investment Management, Moerus Capital Management, and Goehring & Rozencwajg Associate.
The Spanish investment boutique has looked for asset managers with a similar investment philosophy to its own since the four US firms have a very independent investment style – generally following value investment philosophy – and its employees are co-invested in the funds they manage.
The allocation to each sub-manager will be up to 40% of the portfolio at the discretion of Sáenz de Cenzano (pictured), who may vary the weight of the portfolios to avoid, for instance, an excessive sectorial concentration.
The minimum initial investment amounts to €40,000 and any additional investment must be more than €500.