An Investment Fund that invests in Medium and Small Caps companies, with a market capitalization of less than EUR 2.000 million at the time of acquisition.
Its key to success lies in selecting firms in the Euro area that meet a certain set of conditions. Mainly, the firms are required to have a strong and distinctive business model (in some cases even maintain a high market share internationally), which have a stable shareholder structure and are in a position to maintain profitable and sustainable growth over time. Secondly, we continue with the fundamental valuation of the selected companies, investing in those that maintain a higher discount. The global objective of the Fund is to maximize the portfolio's fundamental discount. This discount is monitored continuously.
Many of the companies in which the Fund invests are likely to have been originally offered at a much higher price than they are currently listed.
Weighting both geographic and sector level is done by stock picking. Therefore, the approach is bottom up. It is important to know the liquidity of the companies in the Fund. Liquidity tests are performed regularly.
This is a Fund that will be permanently invested, with a minimum of 85% of its assets in Equities.
It may invest in derivative instruments traded on organized and OTC markets with hedging and investment purposes.
(*) Change of investment policy 01/04/1999.
(**) From 5 February of 2016 this Fund has acquired the Feeder status from the Luxembourger Fund Luxemburgués Pareturn GVC Gaesco Euro Small Caps Equity Fund (Master) managed both by GVC Gaesco Gestión SGIIC.
|Managing Company||GVC Gaesco Gestión, SGIIC, SA|
|Custodian||BNP PARIBAS SECURITIES SERVICES, BRANCH IN SPAIN|
|Launch Date||10/05/1995 (*)|
|Benchmark Index||MSCI EMU Small Caps|
Master Fund Information