Spanish firm Cobas Asset Management has bolstered its fund range with the launch of a European equity fund.
It will invest predominantly in European equities and will also hold some exposure in OECD (Organisation for Economic Co-operation and Development) countries. However, it will also be able to invest between 0% and 100% of the fund’s total exposure in emerging markets.
The fund will use the MSCI Europe Total Return Net as its benchmark reference and will invest more than 75% of its assets in equities and the rest in fixed income. The currency risk will oscillate between 0% and 100% of the total exposure.
The fund has been registered with Spain's CNMV, the national securities market commission, and is registered for sale on the Spanish market.
Given that four of the firm's current six funds have Luxembourg-domiciled Ucits version, it is likely that Paramés will launch a Ucits version of this new fund if it is successful and client demand warrants it.
The boutique was founded in October 2016 and Paramés recently expanded his foothold in the Spanish asset management industry through the purchase of a minority stake in a rival value investment specialist.
Additional reporting by Atholl Simpson