Investment philosophy

A boutique fund closely tied to the fund manager, Francisco García Paramés, whose replacement would lead to a change in investment policy.

At least 75% of total exposure will be invested in equities, at any level of capitalisation and in any issuer sector/market of Spain and Portugal.

The non-equities portion will be invested in fixed-income assets, generally euro area sovereign issuers. The average duration of the fixed-income portfolio will be less than 18 months.

Foreign exchange risk will not exceed 25% of total exposure.

Management objective

The management objective is to achieve satisfactory and sustained performance by applying a value investing philosophy, which identifies assets that are undervalued by the market but have a high upside.

This fund may be unsuitable for investors who expect to withdraw their money within five years or less.

Cobas Iberia FI

Net Asset Value

Daily Return

YTD

Annualized Return

Cobas Iberia FI Clase B

90.643447 €

Net Asset Value

-0.51%

Daily Return

-9.36%

YTD

-13.61%

Annualized Return

Cobas Iberia FI Clase C

88.665638 €

Net Asset Value

-0.51%

Daily Return

-7.30%

YTD

-2.13%

Annualized Return

Cobas Iberia FI Clase D

105.506920 €

Net Asset Value

-0.51%

Daily Return

-7.47%

YTD

3.09%

Annualized Return

Liquidative Date:

The classes of this investment fund share the same investment portfolio, differing only in the management fee applied, which varies depending on the seniority of the participant.

Past returns do not presuppose future returns. Investment in equities can lead to losses of the capital invested, and is not recommended for time horizons of less than 5 years. Management takes as a reference, for purely comparative purposes, a synthetic index weighted between the ITGBM (80%) and the PSI TR (20%)

Cobas Iberia FI

Since Inception

1 month

6 months

1 year

Cobas Iberia FI Clase B

-9.36%

Since Inception

-5.58%

1 month

-12.03%

6 months

-9.36%

1 year

Cobas Iberia FI Clase C

-11.33%

Since Inception

-5.6%

1 month

-12.14%

6 months

-7.46%

1 year

Cobas Iberia FI Clase D

5.51%

Since Inception

-5.62%

1 month

-12.25%

6 months

-7.69%

1 year
Since Inception
1 month
6 months
1 year

Liquidative Date:

Class C Class D Benchmark
2017 10,19% - 8,99%
2018 -14,11% - -10,88%
2019 6,56% - 15,55%
2020 -21,58% - -9,33%
2021 20,93% 14,03% 11,98%

Past returns do not presuppose future returns. Investment in equities can lead to losses of the capital invested, and is not recommended for time horizons of less than 5 years. Management takes as a reference, for purely comparative purposes, a synthetic index weighted between the ITGBM (80%) and the PSI TR (20%)

Fund breakdown

Asset class breakdown

Renta Variable

97.22%

Liquidez

2.78%

Geographical breakdown

España

76.7%

Portugal

18.9%

Liquidez

2.78%

Otros

4.4%

Sector Breakdown

Ingeniería y construcción

14.09%

Conglomerados industriales

9.13%

Medios y entretenimiento

9.12%

Transporte

9.06%

Minería y metales

8.38%

Papelero

7.97%

Equip. y servicios de energía

7.64%

Servicios comerciales

6.01%

Servicios de consumo

5.9%

Inmobiliario

4.65%

Seguros

3.21%

Tesorería

2.78%

Farmacéutico y biotecnología

2.66%

Software y servicios

2.16%

Automóviles y componentes

1.99%

Equip. y servicios de salud

1.74%

Exploración de petróleo y gas

1.7%

Servicios de telecomunicaciones

1.23%

Petróleo gas y combustibles consumibles

0.58%

Fund Data - Cobas Iberia FI

Fundamental Data

ISIN Code

n.d.

CNMV registration code

5131

Registration date

Management company

Cobas Asset Management SGIIC SA

Registered office

Paseo de la Castellana 53. Segunda planta. 28046 Madrid. España.

Depositary

Banco Inversis SA

Auditor

Deloitte Auditores SL

Bloomberg code

n.d.

Fund Profile

Fund type

Legal form

UCIT V

Investment style

Value

Morningstar category

RV España

Currency

EUR

Asset manager(s)

Francisco García Paramés

Investment Profile

Minimum initial investment

100.00€

Minimum additional investment

100.00€

Net asset value

Diario

Management fee

n.d.

Other expenses

n.d.

TER

n.d.

Redemption fee

4%

Assets under management

Fund Data - Cobas Iberia FI Clase B

Fundamental Data

ISIN Code

ES0119184028

CNMV registration code

5131

Registration date

Management company

Cobas Asset Management SGIIC SA

Registered office

Paseo de la Castellana 53. Segunda planta. 28046 Madrid. España.

Depositary

Banco Inversis SA

Auditor

Deloitte Auditores SL

Bloomberg code

COBASBB SM

Fund Profile

Fund type

Legal form

UCIT V

Investment style

Value

Morningstar category

RV España

Currency

EUR

Asset manager(s)

Francisco García Paramés

Investment Profile

Minimum initial investment

100.00€

Minimum additional investment

100.00€

Net asset value

Diario

Management fee

1.25%

Other expenses

0.04%

TER

1.58%

Redemption fee

4%

Assets under management

Fund Data - Cobas Iberia FI Clase C

Fundamental Data

ISIN Code

ES0119184002

CNMV registration code

5131

Registration date

Management company

Cobas Asset Management SGIIC SA

Registered office

Paseo de la Castellana 53. Segunda planta. 28046 Madrid. España.

Depositary

Banco Inversis SA

Auditor

Deloitte Auditores SL

Bloomberg code

COBASIB SM

Fund Profile

Fund type

Legal form

UCIT V

Investment style

Value

Morningstar category

RV España

Currency

EUR

Asset manager(s)

Francisco García Paramés

Investment Profile

Minimum initial investment

100.00€

Minimum additional investment

100.00€

Net asset value

Diario

Management fee

1.5%

Other expenses

0.04%

TER

1.58%

Redemption fee

4%

Assets under management

Fund Data - Cobas Iberia FI Clase D

Fundamental Data

ISIN Code

ES0119184010

CNMV registration code

5131

Registration date

Management company

Cobas Asset Management SGIIC SA

Registered office

Paseo de la Castellana 53. Segunda planta. 28046 Madrid. España.

Depositary

Banco Inversis SA

Auditor

Deloitte Auditores SL

Bloomberg code

COBASBD SM

Fund Profile

Fund type

Legal form

UCIT V

Investment style

Value

Morningstar category

RV España

Currency

EUR

Asset manager(s)

Francisco García Paramés

Investment Profile

Minimum initial investment

100.00€

Minimum additional investment

100.00€

Net asset value

Diario

Management fee

1.75%

Other expenses

0.04%

TER

1.8%

Redemption fee

4%

Assets under management