The Spanish stock fund of Horos Asset Management remains the leader of the League of active management of elEconomista six weeks after it snatched the scepter from Cobas Iberia, who had held that position for the previous months. With a return of 22.69% in the year, it has become one of the most prominent products within the classification, although in recent days the fund managed by Francisco García Paramés and the Magallanes Iberian Equity They have once again been on the winners’ podium, with 19.88% and 19.65%, respectively.
Nearby is also March International Iberia, with a profitability of 19.33%, thus completing the quartet of Spanish stock market funds in the League that exceeds 19% in the year, so far.
The rest of the positions in the top ten are made up BBVA Stock Exchange, Santalucía Ibérico Shares, Bestinver Stock Exchange, Santalucía Espabolsa, Okavango Delta and EDM Investment, with yields ranging between 15.88% and 13.49%.
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Of the 31 funds that are part of the elEconomista League, ten offer more than the 13.30% that the Ibex earns with dividends, showing the importance that active management of the Spanish stock market has acquired this year to obtain more profitability.
The Horos fund is one of the smallest, with only 6.7 million euros, and one of the most recent, since it has just under three years of life, although in this period of time it is the second with the best Annualized profitability data, with 1.68%, only below the March fund, which provides 2.60%.
Horos Value Iberia’s management team is made up of Javier Ruiz, the firm’s investment director, Alejandro Martín and Miguel Rodríguez, who were previously part of Metagestión until they decided to leave this manager to create their own boutique, from which José María Council is the CEO.
Faithful followers of value investing, in Horos Value Iberia the weight of the financial sector represents 26.3% of the portfolio, according to the latest fund file. The real estate and raw materials sectors are the next most represented, with 15.2% and 13%. Among the main positions are Semapa and Merlin Properties.
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The most active funds make up to ten points of difference to those indexed to the Ibex
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