Cobas AM adds fixed income to Iberia equity fund

Eugenia Jiménez
clock • 1 min read

The Spanish National Securities Market Commission (CNMV) has authorised the Iberia equity fund Cobas Iberia to expand its investment universe by investing up to 10% of its portfolio portfolio in high-yield bonds.

The Cobas Iberia fund – managed by the renowned fund manager Paco García Paramés who leads the Spanish firm Cobas Asset Management – seeks to obtain a sustained return in the time, applying a philosophy of value investing, which selects undervalued assets by the market with high potential for revaluation.

The investment strategy, which invests at least 75% of its assets in Spanish and Portuguese equity, will have the possibility from now on to buy shares in OECD countries apart from Spain and Portugal with a limit of 10%.

The Cobas Iberia fund manages some €62m in assets, and has achieved 1% profitability in 2018 and 11% in the last twelve months.