Cobas Asset Management has bolstered its fund range with the launch of a European Equity fund.
The Madrid-based boutique officially launched the Cobas Concentrates fund on 1 December 2017. The fund has been registered with the CNMV, the national securities market commission, by the firm’s founder, Francisco García Paramés.
The fund will invest mainly in equities from European issuers and markets, and will also hold some exposure in OECD (the Organisation for Economic Co-operation and Development) countries. However, it will also be able to invest between 0% and 100% of the fund’s total exposure in emerging markets.
The fund will use the MSCI Europe Total Return Net index as a reference and will invest more than 75% of the total exposure in equities and the rest in fixed income. The currency risk will oscillate between 0% and 100% of the total exposure.
Paramés currently manages several funds at the firm, including the Cobas Internacional fund and the Cobas Renta fund. The firm operates in several asset classes, including global equity and mixed assets.
This is the sixth fund the firm has launched since the boutique was founded in October 2016.
Paramés also recently expanded his foothold in the Spanish asset management industry through the purchase of a minority stake in a rival value investment specialist.