Cobas AM puts Prisa in its Iberian portfolio and increases its commitment to Indra and Galp

Share your love

Cobas AM has entered the shareholding of Rush, a company that includes in its Iberian Portfolio with a weight of 0.5% and has increased its bet by Indra Y Galp, while they take out Quabit (now Neinor) Y Almirall. The portfolio obtained a return of 1.5% in the second quarter, compared to 4.2% for its benchmark.

In addition to the changes mentioned, in the management company chaired by Francisco García Paramés reduced the weight of Tubacex Y Metrovacesa. Likewise, they recall that they did not attend the public acquisition offer on Semapa considering that the price offered was very far from what the company is worth

According to the International Portfolio, During the second quarter, the manager completely exited GS Home Shopping, Matas, Israel Chemicals, Saipem and Hoegh LNG, which in March had a combined weight below 6%, and entered CK Hutchison, Inpex, Panoro, Caltagirone, BW Energy and Okamoto with a combined weight of close to 4%. On the other hand, it increased weight in Golar LNG and Babcock International, while it decreased it in AMG.

During the second quarter of 202, the International Portfolio returned 9.2% against a 6.5% return on its benchmark, the MSCI Europe Total Return Net. In the same period, the Large Companies Portfolio achieved a return of 8.9%, compared to 6.8% for the benchmark, the MSCI World Net.

Between April and June, Cobas AM continued with the rotation of this portfolio that began in the first quarter, completely selling its position in Exor, Catcher, Technip and Israel Chemicals, which at the end of March had a combined weight of close to 6%. With these sales they have financed the purchase of Qurate, Organon and Galp, which have an aggregate weight close to 5%.

Read Also   Couscous salad with dates and walnuts

In the rest of the portfolio, they increased their position in Inpex and Golar LNG, although in the latter case it has been largely helped by the appreciation of the share; while, on the sales side, they lowered their position in Viatris and Aryzta.

Article Source

Share your love