Tordesillas Iberian L/S Equities SICAV Class A


Date

NAV
18/06/201911.011
19/06/201910.996
20/06/201911.000
21/06/201911.023
24/06/201911.011
25/06/201910.985
26/06/201910.957
27/06/201910.957
28/06/201910.981
01/07/201910.984
02/07/201910.986
03/07/201911.010
04/07/201911.011
05/07/201911.009
08/07/201911.001
09/07/201911.013
10/07/201911.013
11/07/201911.052
12/07/201911.062
15/07/201911.063
16/07/201911.026
17/07/201911.042
18/07/201911.043

Monthly reports

2019

JANUARY     FEBRUARY     MARCH     APRIL     MAY     JUNE

Monthly reports

2018

JANUARY     FEBRUARY     MARCH     APRIL    MAY    JUNE     JULY     AUGUST     SEPTEMBER     OCTOBER     NOVEMBER     DECEMBER

Monthly reports

2017

JANUARY     FEBRUARY     MARCH     APRIL     MAY     JUNE     JULY     AUGUST     SEPTEMBER     OCTOBER     NOVEMBER     DECEMBER

Periodic Information

2018

2017

Fund Overview

Tordesillas Iberian L/S launched in March 2016, is a Long/Short long Bias actively managed Equity Fund that will take concentrated long and high conviction short positions within the Spanish and Portuguese markets. The Fund will focus on stock picking, while at the same time trying to mitigate the volatility of each position in the portfolio as well as the one in the overall portfolio. The fund hedges market risk through Index futures mainly on the Spanish IBEX35.

Why Invest

The fund looks to capture positive returns, while protecting against down trending markets, by investing in Spanish and Portuguese equities or subsidiaries abroad. Although having a long bias, the fund has enough flexibility to go net short. The portfolio is invested in a concentrated number of ideas, the goal being to generate alpha from both the long and the short side. The fund aims at keeping volatility capped at 8% (12 months rolling).

The managers will increase or decrease equity market exposure by adjusting the funds mix of long, short and future positions. They will take short positions when confident that contribution will be positive for the fund in a near future, in order not to increase substantially our 8% volatility target.

Managers

Ricardo Seixas
Javier Ortiz, CFA
Leon Izuzquiza

Characteristics

Minimum Investment: 1.000 Euros
Management Fees: 1.75% annual
Performance Fee: 10% annual over HWM
Custody & Administrator: Edmond de Rothschild Group
Prime Broker: Morgan Stanley & Banco Santander


Date

NAV
18/06/201911.011
19/06/201910.996
20/06/201911.000
21/06/201911.023
24/06/201911.011
25/06/201910.985
26/06/201910.957
27/06/201910.957
28/06/201910.981
01/07/201910.984
02/07/201910.986
03/07/201911.010
04/07/201911.011
05/07/201911.009
08/07/201911.001
09/07/201911.013
10/07/201911.013
11/07/201911.052
12/07/201911.062
15/07/201911.063
16/07/201911.026
17/07/201911.042
18/07/201911.043

Monthly reports

2018

JANUARY     FEBRUARY     MARCH     APRIL    MAY

Monthly reports

2017

JANUARY     FEBRUARY     MARCH     APRIL     MAY     JUNE     JULY     AUGUST     SEPTEMBER     OCTOBER     NOVEMBER     DECEMBER

Monthly reports

2016

AUGUST     SEPTEMBER     OCTUBRE     NOVEMBER     DECEMBER

Monthly reports

2010

Periodic Information

2017

2016

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