Andbank has launched Gestión Value, which is claimed to be the first Spanish value investing fund of funds (FoF).
The fund combines strategies of renowned value asset managers in Spain such as AZ Valor, Bestinver or Magallanes, as it invests directly in shares of Warren Buffett-led Berkshire Hathaway.
The innovative investment vehicle has a recommended investment horizon of five years, with an initial 75% investment in international funds of the Spanish asset managers and 25% in the local funds of the same entities. In addition, 5% will be invested directly in the shares of the holding company Berkshire Hathaway.
The FoF will take as a benchmark the profitability of the MSCI Europe Total Return Net index. It will be available through the platform of Andbank funds, and accessible for retail investors from one participation and from €1m for the institutional class.
In a scenario of negative interest rates, with an unstable political environment and large sectoral rotations that result in a complex market, a value management approach can be differential in obtaining results in the investment portfolio, the firm said.