Tordesillas IBERIA, launched in October 2009, is a long only actively managed fund that invests in Spanish and Portuguese Equities with the possibility of investing up to 20% of its AUM in other listed equity stocks (usually subsidiaries abroad). The fund will focus on selecting undervalued stocks regardless of their size or sector with the objective to outperform the benchmark.
The Fund seeks to achieve capital appreciation while protecting the portfolio from down-trends by actively making use of its ability to raise cash in order to manage market exposure. The fund will not trade on derivatives of any kind.
The benchmark used to evaluate relative performance is 90% Ibex35, composed by a selection of stocks (typically the highest market cap companies) in Spain and 10% PSI20 composed of the 20 largest companies in Portugal.