Bankia a 33% since he announced that he is negotiating its merger with CaixaBank to create the largest bank in Spain. And although a still falls 26% Since its annual high of 1.76 euros, there are several investment funds with significant exposure to value that have benefited from their latest rally. These are the most benefited.
Two funds managed by José Ramón Iturriaga, recognized manager of Abante, lead this classification. Its about Abante GF Spanish Opportunities Fund, whose equity is 17 million euros and which accumulates to date a negative profitability of the 41%.
It is a 'long-only' fund, which only adopts bullish positions, and which invests between 75% and 100% in companies domiciled in Spain. It focuses on shares of companies undervalued by the market, with no sector preference, although now it is strongly committed to Socimis and banks.
Their biggest positions are Neinor Homes, which represents 6.68% of the portfolio, Aedas Homes (6.64%), Unicaja Bank (6.57%), Metrovacesa (6.22%), and Liberbank (5.86%). Banks account for 39% of its portfolio and Bankia 3.91%, according to MorningStar data.
In addition, another fund managed by José Ramón Iturriaga, the Okavango Delta FI, has exposure to Bankia. Okavango is a fund that invests more than one 75% in equity assets and the rest, in fixed income, public and / or private assets. His current assets are 33.3 million.
Regarding equities, it invests a minimum of 60% in euro area securities and the rest in other issuers and organized markets of the OECD. So far this year, it accumulates a negative profitability of the 40%.
Their main positions are Neinor Homes, which represents 6.67% of the portfolio, Aedas Homes (6.62%), Unicaja Bank (6.56%), Metrovacesa (6.27%), Liberbank (5.83%). Banks account for 33% of its portfolio and Bankia accounts for 3.91%, according to MorningStar data.
Another of the funds with the most exposure to Bankia is the Santander Spanish Stock FI, managed by José Antonio Montero de Espinosa, and which has an exhibition at the bank chaired by José Ignacio Goirigolzarri from 4.45%.
Their main positions are Endesa (9.52% of the portfolio), Grifols (8.85%), Logistician (7.39%), Inditex (6.85%), EDP (5.44%), Unicaja Bank (5.02%), ACS (4.86%) and Repsol (4.55%). Its philosophy is to invest at least 75% in high quality Spanish companies and consolidated businesses, sustainable profits and management teams with a solid and differential management.
Its time horizon is more than three years and it manages a total assets of 543 million euros. Currently, its stock market exposure is 92% and accumulates a negative profitability of the 33% in so far this year. Finance accounts for 26% of its portfolio.
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