Tordesillas Iberia

Fund Overview

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.

Why invest

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.

Managers

Ricardo Seixas
Javier Ortiz, CFA
Leon Izuzquiza

Characteristics

Performance Fee: 15% of the fund’s anual excess return over benchmark, with HWM
Custodian & Admin: Edmond de Rothschild Group
Auditor: Pricewaterhouse Coopers

Class A

02/08/2019

NAVMTDYTD1Y3Y5YSI
13.41-1.00 %5.15 %-6.31 %24.23 %18.18 %34.14 %
Class I

02/08/2019

NAVMTDYTD1Y3Y5YSI
16.45-0.95 %5.52 %-5.77 %26.07 %21.65 %64.49 %
Class Z

02/08/2019

NAVMTDYTD1Y3Y5YSI
9.54-0.93 %5.61 %-5.60 %---4.57 %

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