Anlageziel

The investment objective of the ETP is to provide medium- to long-term capital appreciation through the active management of a global portfolio of listed companies. The portfolio will be managed by Cobas Asset Management SGIIC, S.A., in its capacity as Portfolio Administrator, in accordance with a value investing philosophy and a bottom-up fundamental analysis process aimed at identifying companies whose market price is considered to be below their estimated intrinsic value and which offer an adequate margin of safety.