Sunday, March 7

Alierta and Preon Launch Global Fund and Partner with Pictet to Export Lierde

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The triangle that forms the Alierta family, the managers of Augustus Capital and the family office suizo Preon Capital Partners take another step in your business relationship. Augustus has launched a second investment strategy, the Cervino Global Equities fund, while it has partnered with Pictet to bring its historic Lierde sicav to Luxembourg and thus be able to market it to foreign clients.

It should be remembered that, a year ago, the Swiss firm (of the business angel finlandés Jari Ovaskainen) announced the acquisition of a 34% of the manager Spanish Augustus Capital Asset Management, head of Lierde Sicav, where the former president of Telefónica, César Alierta, and his family have deposited their assets. The change of control of the manager was formalized on September 25.

The first step in which the three parties agreed to collaborate was to export Lierde, a sicav that has already accumulated 26 years of history with an average annual return of 14%. In this sense, Pictet has ceded one of its sicavs in the Grand Duchy to Augustus to establish a replica of the sicav there.

From this financial center, which holds the European passport for investment funds, Augustus will seek new investors for Lierde in other markets, led by Preon and his visible head, Jari Ovaskainen. This maneuver will be formalized in the coming weeks.

Lierde had about 140 million euros in assets under management at the end of September. Style value and with a Europe bias, among its main positions are Global Dominion, Realia, Roche, SAP and Prosus. The top-10 of stocks is closed by Strabag, Infotel, Novo Nordisk, Facebook and Neurones.

Francisco Tajada, manager at Augustus Capital AM.

The second project in which this triumvirate embarked was to set up a fund that would invest in equities but with a more global scope than Lierde and that incorporated quantitative analysis criteria. The result is Cervino Global Equities.

In the constitution of this second fund, Augustus’ own managers (among them, Juan Uguet de Resayre and Francisco Tajada), the Alierta family and the family office Preon have put in equal parts the initial equity with which Cervino Global Equities will start up. You are already registered with the CNMV with a management commission of 1.6%.

Quantitative filter

The responsible manager will be Tajada, who before joining Augustus was a partner at Preon in Geneva.

This product will invest in the stock exchanges of Europe, the United States and developed Asia, that is, Hong Kong, Japan, Singapore and Australia. As Uguet de Resayre explained to Invertia, the new fund will apply “quantitative filters to quality companies, well managed and in sectors of structural growth “.

“This quantitative approach has been shown to work with real money at the Preon stage, and we’ve been testing it with play money for six months with identical results,” according to Augustus, for whom it fits “perfectly” with his fundamental analysis of return on capital employed (ROCE) and sustainability over time.

The intention of the three parties involved is to let him spend some time between Spanish clients to harvest track record and, later, also take him to the Grand Duchy to find him international investors. Its replica would be housed in a compartment within the Lierde Luxembourg sicav.

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