Tordesillas Iberian L/S Equities SICAV

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

Performance Fee: 10% annual over HWM
Custody & Administrator: Grupo Edmond de Rothschild
Prime Broker: Morgan Stanley & Banco Santander

Class A

15/06/2016
LU1375654800
Minimum Investment 1.000 Euros
Management Fees 1.75% annual

02/08/2019

NAVMTDYTD1Y3Y5YSI
11.090.96 %2.06 %-0.33 %9.12 %-10.91 %
Class I

17/03/2016
LU1375654982
Minimum Investmen 150.00 Euros
Management Fees 1.25% annual

02/08/2019

NAVMTDYTD1Y3Y5YSI
11.060.94 %2.32 %0.15 %10.76 %-10.56 %
Class Z

23/12/2016
LU1456411955
Minimum Investment 1.000 Euros
Management Fees 1.25% annual

02/08/2019

NAVMTDYTD1Y3Y5YSI
11.080.96 %2.31 %0.13 %--10.65 %

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