Dear investor,

We have designed this monthly newsletter to keep you up-to-date with all aspects of Cobas Asset Management. We hope you find it interesting.
Our second newsletter, for the month of July, looks at what is currently going on at Cobas AM and provides information on our funds that may be of interest.

However, we will not take an in-depth look at the portfolio as, in a few weeks’ time, we will be publishing our second-quarter 2017 report, which will provide more detailed…