Investment philosophy

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

The fund will invest up to 15% of total exposure in equities and the rest in fixed-income (including deposits and cash-like money market instruments, whether listed or otherwise).

Most of the fixed-income securities will be issued by sovereign issuers, but also some private issuers, based in the European Union and issuing on EU markets.

The average duration of the fixed-income portfolio will be less than 2 years, and the maximum maturity of fixed-income assets may not exceed 5 years.

Equities may be issued and listed in any country, including emerging countries, and may belong to companies of any size of market cap.

Foreign exchange risk will not exceed 10% 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.

Cobas Renta FI

100.714469 €

Net Asset Value

0.09%

Daily Return

1.96%

YTD

0.13%

Annualized Return

Liquidative Date: 5-10-2022

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. The management takes as a reference, for purely comparative purposes, the €STR.

Cobas Renta FI

0.71%

Since Inception

-0.64%

1 month

-1.35%

6 months

1.75%

1 year
Since Inception
1 month
6 months
1 year

Liquidative Date: 5-10-2022

Fund Benchmark
2017 0,57% -0,35%
2018 -8,67% -0,45%
2019 5,19% -0,48%
2020 -5,10% -0,55%
2021 7,73% -0,57%

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. The management takes as a reference, for purely comparative purposes, the €STR.

Fund breakdown

Asset class breakdown

Activos Monetarios

74.78%

Renta Variable

14%

Renta Fija

9.69%

Liquidez

1.56%

Geographical breakdown

Zona Euro

83.79%

EEUU

12.28%

Resto Europa

3.96%

Sector Breakdown

Gobierno

74.78%

Exploración de petróleo y gas

7.11%

Transporte y almacenamiento de petróleo y gas

4.93%

Conglomerados industriales

2.07%

Equip. y servicios de energía

2%

Tesorería

1.56%

Venta al por menor

1.18%

Maquinaria

1.17%

Alimentos, bebidas y tabaco

1.15%

Aeroespacial y defensa

1.08%

Ingeniería y construcción

1.03%

Servicios comerciales

0.78%

Medios y entretenimiento

0.64%

Transporte

0.55%

Fund Data - Cobas Renta FI

Fundamental Data

ISIN Code

ES0119207001

CNMV registration code

5132

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

COBASRE SM

Fund Profile

Fund type

Legal form

UCIT V

Investment style

Value

Morningstar category

Mixto Defensivo

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

0.25%

Other expenses

0.06%

TER

0.33%

Redemption fee

n.d.

Assets under management