Start generating HTML for 191 ############################## Francisco Garcia Parames GuruFolio Report

I. Portfolio Overview, Profile

Portfolio Overview

Portfolio: Cobas Asset Management Cobas Seleccion FI
Firm Type: Mutual Fund
Portfolio Date: 2019-03-31
Number of Stocks: 72
Equity Value: $784.00 Million
Number of New Buys: 6
Q/Q Turnover: 8%

Profile

FRANCISCO García Paramés is the Chairman and CIO of Cobas Asset Management. His track record of 25 years near the top of performance rankings make him one of Europe’s leading asset managers in the “value” school.
He is a self-taught follower of Warren Buffett’s investment approach. His asset management style is based on strictly applying the principles of value investing (Graham, Buffett, Peter Lynch, etc), within the framework of the Austrian business cycle theory.
He is the author of Invirtiendo a largo plazo (Investing Long-Term), a book in which he explains the underpinnings of his own investment approach and experience.

Investing Philosophy

A boutique fund closely tied to the fund manager, Francisco García Paramés, whose replacement would lead to a change in investment policy.
At least 80% of total exposure will be invested in international equities, at any capitalisation level and in any issuer sector/OECD market. Up to 40% of total exposure may be invested in emerging country issuers/markets.
The non-equities portion will be invested in fixed-income assets, generally euro area sovereign issuers. The average duration of the fixed-income portfolio will be less than 18 months.

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