Spanish asset manager Abante Asesores has unveiled the Abante Quant Value Small Caps fund, consisting of a quantitative global equity strategy that will look for market anomalies (primarily value and momentum).
It will apply an algorithm that analyses 45 parameters of 12,000 companies from the world’s major markets – except China – of which, just 1% will be considered as buying opportunities.
The fund, managed by the astrophysicist Narciso Benítez, will hold 50 stocks, of which most will be small and medium-sized enterprises.
Abante’s president Santiago Satrústegui commented: “We aim at helping those fund managers who are good in the development of their own products, as we recognise how difficult is to be a fund manager in Spain.
“We believe Narciso Benítez has a promising career ahead and needs an incubation period that enables him to replicate what he has done so far but on a larger scale.”
Benítez, who switched astrophysics for asset management in 2006, developed its quantitative investment system as from 2012. His fund has reported an annual profitability of 34.6% on average from January 2013 to present.