The market is encouraged at the start of 2023 to be close. Although analysts are cautious and have sounded the alert about the possibility that corrections are coming, a year with less turbulence is expected.
This bullish push has also been noted in investment funds. At the present time, there are already some that outperform the advance of the Ibex 35, which registered a rise of 8.3% during the first three weeks of the year. The ‘acceleration’ occurs after twelve months full of turbulence, where they have left more than 8% in profitability.
After the ‘dark 2022’ it is possible to find investment opportunities among the large Spanish managers. The ‘ranking’ is headed by the standard CaixaBank stock market Spain 150 fund with a yield of 13.58% at the market close this Friday. Promoted by CaixaBank AM, the largest manager in Spain by assets with a volume of more than 75.1 billion euros, according to Inverco data, this product invests in Spanish equities through derivatives, specifically in Ibex 35 shares.
Among its main positions are Iberdrola, with a 15% exposure to this value, Banco Santander and Inditex, both with a weight above 10% or BBVA, with 7%. Although it also includes telecommunications companies such as Cellnex Telecom or Telefónica.
In second place is Bindex Euro ESG FI Index. The fund managed by BBVA AM accumulates a revaluation of more than 10% since last January 2. It is a passively managed fund that replicates the Euro Stoxx 50 ESG, so its rise is in line with the good start of the index to the year. The chemical sector, banking and fashion account for 31% of its investments, among which are Grupo Linde, Total Energies, LVMH or L’Oreal.
The firm is guided by environmental, social and governance criteria when designing its portfolio, as is Santander Euro-Openbank Index. This fund also replicates the Euro Stoxx 50 ESG, so its portfolio includes Sanofi, Allianz and Schneider Electric, in addition to the companies mentioned above. Its manager, Santander AM, has a capital of 46,400 million, which makes it the second nationally, even ahead of BBVA AM (43,800 million) at the end of 2022.
In fourth position by profitability among the heavyweights is Ibercaja small caps FI class A, with a yield of 9.8%. The fund’s main bets are Sartorius, Bechtle, Flow Traders and Konecranes, with an overweight in ICT, materials and healthcare companies. By contrast, they are underweight real estate, financials and communication services. “Our objective is to identify investment pearls, companies little studied and undervalued by the market, where we see important appreciations in the long term,” Pedro Lacambra, the head of Variable Income and Open Architecture and Ibercaón fund manager, told La Información. .
The list is completed by Kutxabank stock market eurozone Fi-Standard, which has registered a rise of 9.4% so far this year, with investments mainly in France -representing 30% of the total-, Germany (22%), the Netherlands ( 17%) and Spain (7.4%). It is striking that its main values are very similar to those of the previous funds, including Prosus, a Dutch giant that rose to fame as one of the main shareholders of the Chinese technology company Tencent.