2015 Fund factsheets
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December 31, 2015 MAGALLANES IBERIAN EQUITY, FI INVESTMENT POLICY Mutual Fund managed under Value Investing principles, invests in companies whose market price trades below its long-term fundamental value. The investment vocation of the Fund is mainly focused on listed Spanish and Portuguese companies. Objective: to preserve and increase the capital of the Fund generating higher returns than the market in the long-run. HISTORICAL PERFORMANCE ACCUMULATED RETURNS Fund* Benchmark** 1 month -0.10% -7.13% 3 months 7.90% 1.22% 6 months 3.68% -9.43% 109 104 99 MAGALLANES IBERIAN EQUITY, FI "P" 94 - - YTD 6.32% -11.27% Since inception (26/02/2015) 6.32% -11.27% - - 1 year IBEX 35 INDEX (80%) & PSI 20 INDEX (20%) 89 84 Since inception, annualized *MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20”. Reinvestment of net dividends included. MONTHLY HISTORICAL RETURNS January February* March April May June July August September October November December 2015 YEAR* 6.32% - 0.51% 4.98% -1.22% 0.51% -2.15% 3.32% -2.93% -4.20% 5.72% 2.17% -0.10% *Return since 26/02/15 PORTFOLIO INVESTMENT Composition and characteristics of the Fund Main positions 8.7% Number of holdings IBERPAPEL GESTIÓN SA 5.9% Investment level SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA 5.5% BARÓN DE LEY SA PROSEGUR COMPAÑÍA DE SEGURIDAD SA 5.2% MIQUEL Y COSTAS & MIQUEL SA 5.1% 26 86.6% Use of derivatives No Weight of first 10 positions 52.1% Annualized rotation <100% Recommended investment horizon >7 years Portfolio structure MARKET CAP Big Caps < 25bn EUR Upper/Medium < 15bn EUR SECTOR EXPOSURE 3,9% Process Industries 0,0% Medium Caps < 10bn EUR 11,0% Consumer Non-Durables 7,7% Small Caps < 3.5bn EUR Micro Caps < 1bn EUR 44,2% 10,0% 20,0% 30,0% 40,0% 50,0% GEOGRAPHIC EXPOSURE Spain 64,1% 10,3% Utilities 30,9% 0,0% 20,2% Finance 8,4% Commercial Services 6,6% Health Technology 5,8% Retail Trade 4,5% Non-Energy Minerals 4,5% Transportation 4,0% Consumer Services 3,9% Consumer Durables 3,4% Producer Manufacturing 2,6% Industrial Services Portugal 0,0% 22,5% 20,0% 40,0% Communications 60,0% 80,0% 1,4% 0,2% 0,0% 5,0% 10,0% 15,0% 20,0% 25,0% FUND DATA Category Inception date (class “P”) Type of Fund Currency Liquidity AUM ISIN Code, by class NAV, by class Annual management fee, by class Minimum investment, by class Iberian Equity 26/02/15 UCITS Euros Daily EUR 73,635,177.11 ES0159201005 class E, ES0159201021 class P, ES0159201013 class M EUR 112.72 class E, EUR 111.87 class P, EUR 111.40 class M 1.25% class P, 1.75% class M 1,000,000.00 EUR class P, 1 share class M Management Company Registration number at CNMV Managers of the Fund Investor Relations Telephone E-mail Address Depositary Audit Regulatory Body Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín, CFA; José Díaz; Otto Kdolsky Mercedes Azpiroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte CNMV Past performance is no guarantee of future performance. The value of investment and its returns may fluctuate over time and the investor may not recoup original investment. Please consult the full prospectus and other relevant information of the Fund at the Company’s website www.magallanesvalue.com and at CNMV. This is an information document and does not imply any recommendation or offer to subscribe shares. The Company is registered at CNMV with number 239. November 30, 2015 MAGALLANES IBERIAN EQUITY, FI INVESTMENT POLICY Mutual Fund managed under Value Investing principles, invests in companies whose market price trades below its long-term fundamental value. The investment vocation of the Fund is mainly focused on listed Spanish and Portuguese companies. Objective: to preserve and increase the capital of the Fund generating higher returns than the market in the long-run. HISTORICAL PERFORMANCE ACCUMULATED RETURNS Fund* Benchmark** 1 month 2.17% 0.38% 3 months 3.43% 1.03% 6 months 1.58% -6.28% - - YTD 6.43% -4.45% Since inception (26/02/2015) 6.43% -4.45% - - 1 year Since inception, annualized * *MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20”. Reinvestment of net dividends included. MONTHLY HISTORICAL RETURNS January February* March April May June July August September October November December 2015 YEAR 6.43% - 0.51% 4.98% 0.51% -1.22% -2.15% 3.32% -2.93% -4.20% 5.72% 2.17% - *Return since 26/02/15 PORTFOLIO INVESTMENT Main positions Composition and characteristics of the Fund 8.0% Number of holdings IBERPAPEL GESTIÓN SA 5.8% Investment level SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA 5.8% BARÓN DE LEY SA INMOBILIARIA COLONIAL SA 5.0% MIQUEL Y COSTAS & MIQUEL SA 4.7% 27 82.2% Use of derivatives No Weight of first 10 positions 49.6% Annualized rotation <100% Recommended investment horizon >7 years Portfolio structure MARKET CAP Big Caps < 25bn EUR Upper/Medium < 15bn EUR SECTOR EXPOSURE 4,2% Process Industries 0,0% Medium Caps < 10bn EUR 11,0% Consumer Non-Durables 7,8% Small Caps < 3.5bn EUR Micro Caps < 1bn EUR 9,5% Utilities 27,8% 42,5% 0,0% 19,9% Finance 10,0% 20,0% 30,0% 40,0% 50,0% 7,9% Commercial Services 5,3% Health Technology 5,3% Non-Energy Minerals 4,9% Retail Trade 4,2% Consumer Services GEOGRAPHIC EXPOSURE 4,1% Consumer Durables 3,4% Producer Manufacturing Spain 61,5% 3,0% Transportation 2,3% Industrial Services Communications Portugal 0,0% 20,7% 20,0% 40,0% 1,3% 0,2% 0,0% 60,0% 5,0% 10,0% 15,0% 20,0% 25,0% 80,0% FUND DATA Category Inception date (class “P”) Type of Fund Currency Liquidity AUM ISIN Code, by class NAV, by class Annual management fee, by class Minimum investment, by class Iberian Equity 26/02/15 UCITS Euros Daily EUR 72,777,470.14 ES0159201005 class E, ES0159201021 class P, ES0159201013 class M EUR 112.76 class E, EUR 111.98 class P, EUR 111.56 class M 1.25% class P, 1.75% class M 1,000,000.00 EUR class P, 1 share class M Management Company Registration number at CNMV Managers of the Fund Investor Relations Telephone E-mail Address Depositary Audit Regulatory Body Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín, CFA; José Díaz; Otto Kdolsky Mercedes Azpiroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte CNMV Past performance is no guarantee of future performance. The value of investment and its returns may fluctuate over time and the investor may not recoup original investment. Please consult the full prospectus and other relevant information of the Fund at the Company’s website www.magallanesvalue.com and at CNMV. This is an information document and does not imply any recommendation or offer to subscribe shares. The Company is registered at CNMV with number 239. October 31, 2015 MAGALLANES IBERIAN EQUITY, FI INVESTMENT POLICY Mutual Fund managed under Value Investing principles, invests in companies whose market price trades below its long-term fundamental value. The investment vocation of the Fund is mainly focused on listed Spanish and Portuguese companies. Objective: to preserve and increase the capital of the Fund generating higher returns than the market in the long-run. HISTORICAL PERFORMANCE ACCUMULATED RETURNS Fund* 109 Benchmark** 104 1 month 5.72% 8.58% 99 3 months -1.69% -6.73% 6 months -0.06% -7.76% MAGALLANES IBERIAN EQUITY, FI "P" 94 IBEX 35 INDEX (80%) & PSI 20 INDEX (20%) 89 84 - - YTD 4.17% -4.81% Since inception (26/02/2015) 4.17% -4.81% - - 1 year Since inception, annualized * *MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20”. Reinvestment of net dividends included. MONTHLY HISTORICAL RETURNS January February* March April May June July August September October November December 2015 YEAR 4.17% - 0.51% 4.98% 0.51% -1.22% -2.15% 3.32% -2.93% -4.20% 5.72% - - *Return since 26/02/15 PORTFOLIO INVESTMENT Main positions Composition and characteristics of the Fund 7.7% Number of holdings SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA 6.0% Investment level IBERPAPEL GESTIÓN SA 6.0% BARÓN DE LEY SA INMOBILIARIA COLONIAL SA 5.5% MIQUEL Y COSTAS & MIQUEL SA 4.7% 26 83.3% Use of derivatives No Weight of first 10 positions 50.6% Annualized rotation <100% Recommended investment horizon >7 years Portfolio structure MARKET CAP Big Caps < 25bn EUR Upper/Medium < 15bn EUR SECTOR EXPOSURE 4,3% Process Industries 0,0% Medium Caps < 10bn EUR 4,8% Micro Caps < 1bn EUR 43,0% 10,0% 20,0% 30,0% 40,0% 50,0% GEOGRAPHIC STRUCTURE 61,6% 0,0% 21,6% 20,0% 40,0% 5,6% Consumer Services 4,6% Retail Trade 4,4% Commercial Services 4,4% Non-Energy Minerals 3,8% Producer Manufacturing 3,7% Consumer Durables Industrial Services 60,0% 8,1% Health Technology Transportation Portugal 9,4% Utilities 31,1% Spain 11,6% Consumer Non-Durables Small Caps < 3.5bn EUR 0,0% 20,1% Finance 80,0% 0,0% 3,7% 2,6% 1,4% 5,0% 10,0% 15,0% 20,0% FUND DATA Category Inception date (class “P”) Type of Fund Currency Liquidity AUM ISIN Code, by class NAV, by class Annual management fee, by class Minimum investment, by class Iberian Equity 26/02/15 UCITS Euros Daily EUR 68,979,956.30 ES0159201005 class E, ES0159201021 class P, ES0159201013 class M EUR 110.30 class E, EUR 109.61 class P, EUR 109.24 class M 1.25% class P, 1.75% class M 1,000,000.00 EUR class P, 1 share class M Management Company Registration number at CNMV Manager of the Fund Investor Relations Telephone E-mail Address Depositary Audit Regulatory Body Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín Aránguez, CFA Mercedes Azpiroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte CNMV Past performance is no guarantee of future performance. The value of investment and its returns may fluctuate over time and the investor may not recoup original investment. Please consult the full prospectus and other relevant information of the Fund at the Company’s website www.magallanesvalue.com and at CNMV. This is an information document and does not imply any recommendation or offer to subscribe shares. The Company is registered at CNMV with number 239. 30th September, 2015 MAGALLANES IBERIAN EQUITY, FI INVESTMENT POLICY Mutual Fund managed under Value Investing principles, invests in companies whose market price trades below its long-term fundamental value. The investment vocation of the Fund is mainly focused on listed Spanish and Portuguese companies. Objective: to preserve and increase the capital of the Fund generating higher returns than the market in the long-run. HISTORICAL PERFORMANCE ACCUMULATED RETURNS 109 Fund* Benchmark** 104 1 month -4.20% -6.50% 99 3 months -3.91% -10.51% 6 months -6.64% -15.63% MAGALLANES IBERIAN EQUITY, FI "P" 94 IBEX 35 INDEX (80%) & PSI 20 INDEX (20%) 89 - - YTD -1.46% -12.33% Since inception (26/02/2015) -1.46% -12.33% - - 1 year 84 Since inception, annualized *MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20”. Reinvestment of net dividends included. MONTHLY HISTORICAL RETURNS January February* March April May June July August September October November December 2015 YEAR -1.46% - 0.51% 4.98% 0.51% -1.22% -2.15% 3.32% -2.93% -4.20% - - - *Return since 26/02/15 PORTFOLIO INVESTMENT Main positions Composition and characteristics of the Fund 8.6% Number of holdings SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA 5.9% Investment level IBERPAPEL GESTIÓN SA 5.7% BARÓN DE LEY SA INMOBILIARIA COLONIAL SA 5.5% SONAE SGPS SA 4.8% 26 85.0% Use of derivatives No Weight of first 10 positions 51.5% Annualized rotation <100% Recommended investment horizon >7 years Portfolio structure MARKET CAP Big Caps < 25bn EUR Upper/Medium < 15bn EUR SECTOR EXPOSURE Process Industries 4.2% Finance 0.0% Medium Caps < 10bn EUR 19.8% 4.3% Small Caps < 3.5bn EUR 11.4% Consumer Non-Durables 10.6% Utilities 25.7% 8.1% Health Technology Micro Caps < 1bn EUR 50.7% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% GEORGRAPHIC EXPOSURE 5.7% Retail Trade 4.8% Commercial Services 4.7% Consumer Services 4.6% Producer Manufacturing Spain 62.8% 3.7% Non-Energy Minerals 3.5% Transportation Portugal 0.0% 22.2% 20.0% 40.0% Industrial Services 60.0% 4.5% Consumer Durables 80.0% 0.0% 2.3% 1.5% 5.0% 10.0% 15.0% 20.0% FUND DATA Category Inception date (class “P”) Type of Fund Currency Liquidity AUM ISIN Code, by class NAV, by class Annual management fee, by class Minimum investment, by class Iberian Equity 26/02/15 UCITS Euros Daily EUR 63,374,968.51 ES0159201005 class E, ES0159201021 class P, ES0159201013 class M EUR 104.27 class E, EUR 103.68 class P, EUR 103.37 class M 1.25% class P, 1.75% class M 1,000,000.00 EUR class P, 1 share class M Management Company Registration number at CNMV Manager of the Fund Investor Relations Telephone E-mail Address Depositary Audit Regulatory Body Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín Aránguez, CFA Mercedes Azpiroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte CNMV Past performance is no guarantee of future performance. The value of investment and its returns may fluctuate over time and the investor may not recoup original investment. Please consult the full prospectus and other relevant information of the Fund at the Company’s website www.magallanesvalue.com and at CNMV. This is an information document and does not imply any recommendation or offer to subscribe shares. The Company is registered at CNMV with number 239. 31st August, 2015 MAGALLANES IBERIAN EQUITY, FI INVESTMENT POLICY Mutual Fund managed under Value Investing principles, invests in companies whose market price trades below its long-term fundamental value. The investment vocation of the Fund is mainly focused on listed Spanish and Portuguese companies. Objective: to preserve and increase the capital of the Fund generating higher returns than the market in the long-run. HISTORICAL PERFORMANCE ACCUMULATED RETURNS 108 103 MAGALLANES IBERIAN EQUITY, FI "P" 98 Benchmark** -2.93% -8.11% 3 months -1.83% -8.24% 6 months 2.34% -6.51% - - YTD 2.86% -6.13% Since inception (26/02/2015) 2.86% -6.13% - - 1 year IBEX 35 INDEX (80%) & PSI 20 INDEX (20%) 93 Fund* 1 month 88 Since inception, annualized MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20”. Reinvestment of net dividends included. MONTHLY HISTORICAL RETURNS January* February March April May June July August September October November December 2015 YEAR 2.86% - 0.51% 4.98% 0.51% -1.22% -2.15% 3.32% -2.93% - - - - *Return since 26/02/15 PORTFOLIO INVESTMENT Main positions Composition and characteristics of the Fund 8.0% Number of holdings SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA 6.5% Investment level IBERPAPEL GESTIÓN SA 6.0% MIQUEL Y COSTAS & MIQUEL SA 5.0% SONAE SGPS SA 4.9% BARÓN DE LEY SA 25 84.0% Use of derivatives No Weight of first 10 positions 51.6% Annualized rotation <100% Recommended investment horizon >7 years 84% Portfolio structure MARKET CAP SECTOR EXPOSURE Process Industries Mega Caps > 25bn EUR Big Caps < 25bn EUR Finance 4.3% Upper/Medium < 15bn EUR 9.9% Utilities 3.3% Small Caps < 3.5bn EUR Micro Caps < 1bn EUR 42.1% 10.0% 20.0% 30.0% 8.1% Health Technology 32.3% 0.0% 11.1% Consumer Non-Durables 2.0% Medium Caps < 10bn EUR 19.7% 40.0% 50.0% 6.1% Retail Trade 4.9% Commercial Services 4.8% Consumer Services GEOGRAPHIC EXPOSURE 4.7% Non-Energy Minerals Spain Consumer Durables 62.5% Producer Manufacturing Transportation Portugal 21.5% Industrial Services 0.0% 0.0% 20.0% 40.0% 60.0% 4.2% 3.8% 2.7% 2.2% 1.8% 5.0% 10.0% 15.0% 20.0% 80.0% FUND DATA Category Inception date (class “P”) Type of Fund Currency Liquidity AUM ISIN Code, by class NAV, by class Annual management fee, by class Minimum investment, by class Iberian equities 26/02/15 UCITS Euros Daily EUR 64,357,927.92 ES0159201005 class E, ES0159201021 class P, ES0159201013 class M EUR 108.78 class E, EUR 108.23 class P, EUR 107.95 class M 1.25% class P, 1.75% class M 1,000,000.00 EUR class P, 1 share class M Management Company Registration number at CNMV Manager of the Fund Investor Relations Telephone E-mail Address Depositary Audit Regulatory Body Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín Aránguez, CFA Mercedes Azpiroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte CNMV Past performance is no guarantee of future performance. The value of investment and its returns may fluctuate over time and the investor may not recoup original investment. Please consult the full prospectus and other relevant information of the Fund at the Company’s website www.magallanesvalue.com and at CNMV. This is an information document and does not imply any recommendation or offer to subscribe shares. The Company is registered at CNMV with number 239. 31st July, 2015 MAGALLANES IBERIAN EQUITY, FI INVESTMENT POLICY Mutual Fund managed under Value Investing principles, invests in companies whose market price trades below its long-term fundamental value. The investment vocation of the Fund is mainly focused on listed Spanish and Portuguese companies. Objective of the Fund: to preserve and increase capital generating higher returns than the market in the long-run. HISTORICAL PERFORMANCE ACCUMULATED RETURNS 110 Fund* 108 106 MAGALLANES IBERIAN EQUITY, FI "P" 104 102 IBEX 35 INDEX (80%) & PSI20 INDEX (20%) 100 98 96 3.32% 4.17% 3 months 1.65% -1.11% 6 months - - 1 year - - YTD 5.96% 2.06% Since inception (26/02/2015) 5.96% 2.06% - - Since inception, annualized 94 26/02/2015 26/03/2015 26/04/2015 26/05/2015 26/06/2015 Benchmark** 1 month MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20”. Reinvestment of net dividends included. 26/07/2015 MONTHLY HISTORICAL RETURNS January* February March April May June July August September October November December 2015 YEAR 5.96% - 0.51% 4.98% 0.51% -1.22% -2.15% 3.32% - - - - - *Return since 26/02/15 PORTFOLIO INVESTMENT Main positions Composition and characteristics of the Fund 8.1% Number of holdings SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA 6.1% Average investment level IBERPAPEL GESTIÓN SA 6.1% SONAE SGPS SA 5.5% INMOBILIARIA COLONIAL SA 4.9% BARÓN DE LEY SA 25 81.6% Use of derivatives No Weight of first 10 positions 50.9% Annualized rotation <100% Recommended investment horizon >7 years 84% Portfolio structure MARKET CAP SECTOR EXPOSURE Mega Caps > 25bn EUR Process Industries Big Caps < 25bn EUR 4.7% Upper/Medium < 15bn EUR Finance 0.9% Medium Caps < 10bn EUR 11.8% Consumer Non-Durables 3.7% 10.1% Utilities Small Caps < 3.5bn EUR 33.8% Micro Caps < 1bn EUR 10.0% 20.0% 30.0% 8.6% Health Technology 39.6% 0.0% 17.9% 40.0% GEOGRAPHIC EXPOSURE 50.0% 6.1% Retail Trade 5.5% Commercial Services 5.3% Consumer Durables Spain 4.2% Consumer Services 62.1% 3.6% Non-Energy Minerals Portugal 0.0% 20.6% 20.0% 40.0% 60.0% 2.8% Producer Manufacturing 2.4% Transportation 2.3% Industrial Services 2.1% 80.0% 0.0% 5.0% 10.0% 15.0% 20.0% FUND DATA Category Inception date (class “P”) Type of Fund Currency Liquidity AUM ISIN Code, by class NAV, by class Annual management fee, by class Minimum investment, by class Iberian equities 26/02/15 UCITS Euros Daily 64,187,346.00 EUR ES0159201005 class E, ES0159201021 class P, ES0159201013 class M EUR 111.98 class E, EUR 111.49 class P, EUR 111.25 class M 1.25% class P, 1.75% class M 1,000,000.00 EUR class P, 1 share class M Management Company Registration number at CNMV Manager of the Fund Investor Relations Telephone E-mail Address Depositary Audit Regulatory Body Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín Aránguez, CFA Mercedes Azpiroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte CNMV Past performance is no guarantee of future performance. The value of investment and its returns may fluctuate over time and the investor may not recoup original investment. Please consult the full prospectus and other relevant information of the Fund at the Company’s website www.magallanes.value.com and at CNMV. This is an information document and does not imply any recommendation or offer to subscribe shares. The Company is registered at CNMV with number 239. June 30, 2015 MAGALLANES IBERIAN EQUITY, FI INVESTMENT POLICY Mutual Fund managed under Value Investing principles, invests in companies whose market price trades below its long-term fundamental value. The investment vocation of the Fund is mainly focused on listed Spanish and Portuguese companies. Objective of the Fund: to preserve and increase capital generating higher returns than the market in the long-run. HISTORICAL PERFORMANCE ACCUMULATED RETURNS 110 Fund* Benchmark** 106 1 month -2.15% -4.01% 104 3 months -2.88% -5.76% 6 months - - 1 year - - YTD 2.51% -1.81% Since inception (26/02/2015) 2.51% -1.81% - - 108 MAGALLANES IBERIAN EQUITY, FI "P" 102 100 IBEX 35 INDEX (80%) y PSI20 INDEX (20%) 98 96 94 Since inception, annualized 92 26/02/2015 26/03/2015 26/04/2015 26/05/2015 26/06/2015 MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20”. Reinvestment of net dividends included. MONTHLY HISTORICAL RETURNS January* February March April May June July August September October November December 2015 YEAR 2.51% - 0.51% 4.98% 0.51% -1.22% -2.15% - - - - - - *Return since 26/02/15 PORTFOLIO INVESTMENT Main positions Composition and characteristics of the Fund 8.4% Number of holdings SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA 6.4% Average investment level IBERPAPEL GESTION SA 6.0% SONAE SGPS SA 5.4% GAS NATURAL SDG SA 5.1% BARON DE LEY SA 24 70.4% Use of derivatives No Weight of first 10 positions 51.6% Annualized rotation <100% Recommended investment horizon >7 years 84% Portfolio structure MARKET CAP SECTOR EXPOSURE Mega Caps > 25bn EUR Process Industries Big Caps < 25bn EUR 5.1% 18.1% Finance Upper/Medium < 15bn EUR 12.3% Consumer Non-Durables Medium Caps < 10bn EUR 4.1% Utilities Small Caps < 3.5bn EUR 34.9% Micro Caps < 1bn EUR 36.3% 0.0% 5.0% 10.5% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% GEOGRAPHIC EXPOSURE Spain 40.0% 8.1% Commercial Services 5.8% Health Technology 5.7% Retail Trade 5.4% Consumer Services 3.7% Consumer Durables 60.6% 3.4% Transportation Portugal 19.9% 2.4% Industrial Services 2.2% Producer Manufacturing 2.1% Non-Energy Minerals 0.0% 20.0% 40.0% 60.0% 80.0% 0.9% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% FUND DATA Category Inception date (class “P”) Type of Fund Currency Liquidity AUM ISIN Code, by class NAV, by class Annual management fee, by class Minimum investment, by class Iberian equities 26/02/15 UCITS Euros Daily EUR 60,759,038.17 ES0159201005 class E, ES0159201021 class P, ES0159201013 class M EUR 108.27 class E, EUR 107.87 class P, EUR 107.68 class M 1.25% class P, 1.75% class M 1,000,000.00 EUR class P, 1 share class M Management Company Registration number at CNMV Manager of the Fund Investor Relations Telephone E-mail Address Depositary Audit Regulatory Body Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín Aránguez, CFA Mercedes Azpiroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte CNMV Past performance is no guarantee of future performance. The value of investment and its returns may fluctuate over time and the investor may not recoup original investment. Please consult the full prospectus and other relevant information of the Fund at the Company’s website www.magallanes.value.com and at CNMV. This is an information document and does not imply any recommendation or offer to subscribe shares. The Company is registered at CNMV with number 239. May 31, 2015 MAGALLANES IBERIAN EQUITY, FI INVESTMENT POLICY Mutual Fund managed under Value Investing principles, invests in companies whose market price trades below its long-term fundamental value. The investment vocation of the Fund is mainly focused on listed Spanish and Portuguese companies. Objective of the Fund: to preserve and increase capital generating higher returns than the market in the long-run. HISTORICAL PERFORMANCE ACCUMULATED RETURNS 110 108 106 104 MAGALLANES IBERIAN EQUITY, FI "P" IBEX 35 INDEX (80%) y PSI20 INDEX (20%) 102 100 98 96 94 Fund* Benchmark** 1 month 0.51% -1.36% 3 months 4.25% 1.90% 6 months - - 1 year - - YTD 4.77% 2.31% Since inception (26/02/2015) 4.77% 2.31% - - Since inception, annualized 92 26/02/2015 26/03/2015 26/04/2015 *MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20”. Reinvestment of net dividends included. 26/05/2015 MONTHLY HISTORICAL RETURNS January* February March April May June July August September October November December 2015 YEAR 4.77% - 0.51% 4.98% -1.22% 0.51% - - - - - - - *Return since 26/02/15 PORTFOLIO INVESTMENT Main positions Composition and Characteristics of the Fund 9.0% Number of securities SONAE SGPS SA 5.9% Average investment level IBERPAPEL GESTION SA 5.5% MIQUEL Y COSTAS & MIQUEL SA 4.3% PROSEGUR COMPAÑIA DE SEGURIDAD SA 4.2% BARON DE LEY SA 24 69.6% Use of Derivatives No Weight of first 10 positions 46.7% Annualized Rotation <100% Recommended investment horizon >7 years 84% Portfolio structure MARKET CAP SECTOR EXPOSURE Process Industries Mega Caps > 25bn EUR Big Caps < 25bn EUR 2.4% Consumer Non-Durables Upper/Medium < 15bn EUR 2.4% Finance Medium Caps < 10bn EUR Small Caps < 3.5bn EUR 27.1% 5.0% 10.6% 7.4% Retail Trade 5.9% Utilities 5.8% 36.7% Health Technology 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% Commercial Services 4.9% Micro Caps < 1bn EUR 0.0% 14.8% GEOGRAPHIC EXPOSURE Spain Consumer Services 50.8% 4.0% Consumer Durables 3.8% Transportation 2.7% Producer Manufacturing 2.1% Non-Energy Minerals Portugal 1.0% 17.9% Industrial Services 0.7% 0.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 60.0% FUND DATA Category Inception date (class “P”) Type of Fund Currency Liquidity Wealth ISIN Code, by class NAV, by class Annual management fee, by class Minimum investment, by class Iberian equities 26/02/15 UCITS Euros Daily EUR 56,923,440.10 ES0159201005 class E, ES0159201021 class P, ES0159201013 class M EUR 110.59 class E, EUR 110.24 class P, EUR 110.11 class M 1.25% class P, 1.75% class M 1,000,000.00 EUR class P, 1 share class M Management Company Registration number at CNMV Manager of the Fund Investor Relations Telephone E-mail Address Depositary Audit Regulatory Body Magallanes Value Investors, S.A. S.G.I.I.C. 239 Ivan Martin Aranguez, CFA Mercedes Azpiroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte C.N.M.V. Past performance is no guarantee of future performance. The value of investment and its returns may fluctuate over time and the investor may not recoup original investment. Please consult the full prospectus and other relevant information of the Fund at the Company’s website www.magallanes.value.com and at CNMV. This is an information document and does not imply any recommendation or offer to subscribe shares. The Company is registered at CNMV with number 239. 30 de abril de 2015 MAGALLANES IBERIAN EQUITY, FI POLÍTICA DE INVERSIÓN Fondo de inversión gestionado bajo los principios de la inversión estilo valor, invierte en compañías cuyo precio de mercado se encuentra por debajo de su valoración fundamental a largo plazo. La vocación inversora del Fondo está centrada principalmente en empresas cotizadas Españolas y Portuguesas. Objetivo de inversión: preservar y hacer crecer el capital del fondo generando rentabilidades a largo plazo por encima de las de mercado. COTIZACIÓN HISTÓRICA RENTABILIDADES ACUMULADAS Fondo* Índice** -1,22% -0,25% 3 meses - - 6 meses - - 1 año - - YTD 4,24% 5,13% Desde inicio (26/02/2015) 4,24% 5,13% - - MAGALLANES IBERIAN EQUITY, FI "P" 114 113 112 111 110 109 108 107 106 105 1 mes Desde inicio, anualizado *MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20” Reinversión de dividendos netos incluidos. RENTABILIDAD HISTÓRICA MENSUAL Enero Febrero* Marzo Abril Mayo Junio Julio Agosto Septiembre Octubre Noviembre Diciembre 2015 AÑO 4,24% - 0,51% 4,98% -1,22% *Rentabilidad desde 26/02/15 - - - - - - - - INVERSIÓN EN CARTERA Principales posiciones Composición y Características de la Inversión 8,9% Número de Valores SONAE SGPS SA 6,4% Nivel medio de inversión en renta variable IBERPAPEL GESTIÓN SA 6,1% PROSEGUR COMPAÑÍA DE SEGURIDAD SA 4,5% MIQUEL Y COSTAS & MIQUEL SA 4,2% BARÓN DE LEY SA 24 68,0% Uso de Productos Derivados No Peso de las 10 primeras posiciones 48,0% Rotación Anualizada <100% Plazo de Inversión Recomendado >7 años 84% Estructura de la cartera MARKET CAP EXPOSICIÓN SECTORIAL Mega Caps > 25bn EUR Big Caps < 25bn EUR Upper/Medium < 15bn EUR Process Industries 2.4% 2.6% 8.9% Finance Medium Caps < 10bn EUR 7.7% Retail Trade Small Caps < 3.5bn EUR 33.2% Micro Caps < 1bn EUR 0.0% 15.3% Consumer Non-Durables Utilities 37.5% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% EXPOSICIÓN GEOGRÁFICA 6.4% 6.2% Consumer Services 6.0% Commercial Services 5.3% Health Technology 4.8% Consumer Durables Spain 51.9% 3.6% Transportation 2.9% Producer Manufacturing Portugal 19.1% 2.0% Non-Energy Minerals 1.0% Industrial Services 0.9% 0.0% 0.0% 20.0% 40.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 60.0% DATOS DEL FONDO Categoría Fecha de inicio (clase “P”) Tipo de fondo Divisa denominación Liquidez Patrimonio Código ISIN, por clase NAV, por clase Comisión de gestión anual, por clase Inversión mínima, por clase Renta Variable Ibérica 26/02/15 UCITS Euros Diaria 53.765.968,03 EUR ES0159201005 clase E, ES0159201021 clase P, ES0159201013 clase M 109,96 EUR clase E, 109,68 EUR clase P, 109,59 EUR clase M 1,25% clase P, 1,75% clase M 1.000.000,00 EUR clase P, 1 participación clase M Entidad Gestora Nº de registro CNMV Gestor del Fondo Relación con Inversores Teléfono Correo electrónico Dirección Entidad Depositaria Auditor Entidad Regulatoria Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín Aránguez, CFA Mercedes Azpíroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte C.N.M.V. Las rentabilidades pasadas no garantizan rentabilidades futuras. El valor de las inversiones y de sus rendimientos pueden variar y el inversor puede no recuperar su inversión original. Consulte el folleto informativo y demás documentación del fondo en la web de la Gestora www.magallanes.value.com y en la CNMV. Este documento es informativo y no supone recomendación u oferta de suscribir participaciones. La Gestora está inscrita en la CNMV con el número 239. 31 de marzo de 2015 MAGALLANES IBERIAN EQUITY, FI POLÍTICA DE INVERSIÓN Fondo de inversión gestionado bajo los principios de la inversión estilo valor, invierte en compañías cuyo precio de mercado se encuentra por debajo de su valoración fundamental a largo plazo. La vocación inversora del Fondo está centrada principalmente en empresas cotizadas Españolas y Portuguesas. Objetivo de inversión: preservar y hacer crecer el capital del fondo generando rentabilidades a largo plazo por encima de las de mercado. COTIZACIÓN HISTÓRICA RENTABILIDADES ACUMULADAS MAGALLANES IBERIAN EQUITY, FI "P" 112 1 mes 111 Fondo* Índice** 4,98% 3,59% 110 3 meses - - 109 6 meses - - 108 1 año - - YTD 5,52% 4,00% Desde inicio (26/02/2015) 5,52% 4,00% - - 107 106 105 Desde inicio, anualizado *MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20” Reinversión de dividendos netos incluidos. RENTABILIDAD HISTÓRICA MENSUAL Enero Febrero* Marzo Abril Mayo Junio Julio Agosto Septiembre Octubre Noviembre Diciembre 2015 AÑO 5,52% - 0,51% 4,98% - - - *Rentabilidad desde 26/02/15 - - - - - - INVERSIÓN EN CARTERA Principales posiciones Composición y Características de la Inversión 9,4% Número de Valores IBERPAPEL GESTIÓN SA 6,4% Nivel medio de inversión en renta variable SONAE SGPS SA 5,4% MIQUEL Y COSTAS & MIQUEL SA 3,9% IBERSOL SGPS SA 3,9% BARÓN DE LEY SA 23 58,8% Uso de Productos Derivados No Peso de las 10 primeras posiciones 43,6% Rotación Anualizada <100% Plazo de Inversión Recomendado >7 años 84% Estructura de la cartera MARKET CAP EXPOSICIÓN SECTORIAL Mega Caps > 25bn EUR Big Caps < 25bn EUR Upper/Medium < 15bn EUR Process Industries 1.5% 2.9% Medium Caps < 10bn EUR Small Caps < 3.5bn EUR 25.1% Micro Caps < 1bn EUR 0.0% 30.2% 5.0% 14.2% Consumer Non-Durables 9.4% Retail Trade 5.5% Finance 5.3% Health Technology 4.2% Utilities 4.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% Consumer Services EXPOSICIÓN GEOGRÁFICA 3.9% Commercial Services 3.3% Transportation Spain 43.2% 3.2% Consumer Durables 2.5% Producer Manufacturing Portugal Non-Energy Minerals 16.5% Industrial Services 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 0.0% 2.1% 1.1% 1.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% DATOS DEL FONDO Categoría Fecha de inicio (clase “P”) Tipo de fondo Divisa denominación Liquidez Patrimonio Código ISIN, por clase NAV, por clase Comisión de gestión anual, por clase Inversión mínima, por clase Renta Variable Ibérica 26/02/15 UCITS Euros Diaria 50.575.370,25 EUR ES0159201005 clase E, ES0159201021 clase P, ES0159201013 clase M 111,24 EUR clase E, 111,03 EUR clase P, 110,98 EUR clase M 1,25% clase P, 1,75% clase M 1.000.000,00 EUR clase P, 1 participación clase M Entidad Gestora Nº de registro CNMV Gestor del Fondo Relación con Inversores Teléfono Correo electrónico Dirección Entidad Depositaria Auditor Entidad Regulatoria Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín Aránguez, CFA Mercedes Azpíroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte C.N.M.V. Las rentabilidades pasadas no garantizan rentabilidades futuras. El valor de las inversiones y de sus rendimientos pueden variar y el inversor puede no recuperar su inversión original. Consulte el folleto informativo y demás documentación del fondo en la web de la Gestora www.magallanes.value.com y en la CNMV. Este documento es informativo y no supone recomendación u oferta de suscribir participaciones. La Gestora está inscrita en la CNMV con el número 239. 28 de febrero de 2015 MAGALLANES IBERIAN EQUITY, FI POLÍTICA DE INVERSIÓN Fondo de inversión gestionado bajo los principios de la inversión estilo valor, invierte en compañías cuyo precio de mercado se encuentra por debajo de su valoración fundamental a largo plazo. La vocación inversora del Fondo está centrada principalmente en empresas cotizadas Españolas y Portuguesas. Objetivo de inversión: preservar y hacer crecer el capital del fondo generando rentabilidades a largo plazo por encima de las de mercado. COTIZACIÓN HISTÓRICA RENTABILIDADES ACUMULADAS 108 Fondo* Índice** 0,51% 0,40% 3 meses - - 6 meses - - 1 año - - YTD 0,51% 0,40% Desde inicio (26/02/2015) 0,51% 0,40% - - 1 mes MAGALLANES IBERIAN EQUITY, FI "P" 107 106 105 26/02/2015 27/02/2015 Desde inicio, anualizado 28/02/2015 *MAGALLANES IBERIAN EQUITY FI “P” ** “80% Spain IBEX 35, 20% Portugal PSI 20” Reinversión de dividendos netos incluidos. RENTABILIDAD HISTÓRICA MENSUAL Enero Febrero* Marzo Abril Mayo Junio Julio Agosto Septiembre Octubre Noviembre Diciembre 2015 AÑO 0,51% - 0,51% - - - - *Rentabilidad desde 26/02/15 - - - - - - INVERSIÓN EN CARTERA Principales posiciones Composición y Características de la Inversión 9,0% Número de Valores IBERPAPEL GESTIÓN SA 6,4% Nivel medio de inversión en renta variable SONAE SGPS SA 5,4% MIQUEL Y COSTAS & MIQUEL SA 3,6% SOCIEDADE DE INVESTIMENTO E GESTAO SGPS SA 3,6% BARÓN DE LEY SA 22 57,0% Uso de Productos Derivados No Peso de las 10 primeras posiciones 42,3% Rotación Anualizada <100% Plazo de Inversión Recomendado >7 años 84% Estructura de la cartera EXPOSICIÓN SECTORIAL Process Industries Consumer Non-Durables Finance Retail Trade Utilities Health Technology Commercial Services Transportation Consumer Durables Consumer Services Producer Manufacturing Non-Energy Minerals 0.0% 9.0% 5.7% 5.4% 4.5% 3.8% 3.7% 3.2% 2.8% 1.9% 1.9% 1.1% 2.0% 4.0% 6.0% EXPOSICIÓN DIVISA 14.3% 100.0% 80.0% 57.1% 60.0% 40.0% 20.0% 0.0% 8.0% 10.0% 12.0% 14.0% 16.0% EUR EXPOSICIÓN GEOGRÁFICA MARKET CAP Mega Caps > 25bn EUR Spain 41.9% Big Caps < 25bn EUR 1.7% Upper/Medium < 15bn EUR Medium Caps < 10bn EUR Portugal 15.2% 2.9% Small Caps < 3.5bn EUR 24.9% Micro Caps < 1bn EUR 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 0.0% 27.6% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% DATOS DEL FONDO Categoría Fecha de inicio (clase “P”) Tipo de fondo Divisa denominación Liquidez Patrimonio Código ISIN, por clase NAV, por clase Comisión de gestión anual, por clase Inversión mínima, por clase Renta Variable Ibérica 26/02/15 UCITS Euros Diaria 45.732.583,50 EUR ES0159201005 clase E, ES0159201021 clase P, ES0159201013 clase M 105,89 EUR clase E, 105,75 EUR clase P, 105,75 EUR clase M 1,25% clase P, 1,75% clase M 1.000.000,00 EUR clase P, 1 participación clase M Entidad Gestora Nº de registro CNMV Gestor del Fondo Relación con Inversores Teléfono Correo electrónico Dirección Entidad Depositaria Auditor Entidad Regulatoria Magallanes Value Investors, S.A. S.G.I.I.C. 239 Iván Martín Aránguez, CFA Mercedes Azpíroz Arteche +34 91 426 48 12 [email protected] C/ Lagasca 88, 4º. 28001 Madrid Santander Securities Services, S.A. Deloitte C.N.M.V. Las rentabilidades pasadas no garantizan rentabilidades futuras. El valor de las inversiones y de sus rendimientos pueden variar y el inversor puede no recuperar su inversión original. Consulte el folleto informativo y demás documentación del fondo en la web de la Gestora www.magallanes.value.com y en la CNMV. Este documento es informativo y no supone recomendación u oferta de suscribir participaciones. La Gestora está inscrita en la CNMV con el número 239.
