The
Bestinver Group is a financial services company
founded in 1987
and 100% owned by
Acciona (one of the leading infrastructure, energy and services
companies in Spain, listed Ibex 35 member). We currently manage more than
€6
billion through six mutual funds, 33 Sicavs and three pension funds.
The three basic cornerstones of our management are:
Investment philosophy
based on "Value Investing".
Fully independent
management.
Focus on returns, not AuM.
Since we began managing our first fund in 1991, we have always endeavoured to
unlock
value in each and every investment we make. Our commitment is
based on an in-depth knowledge of the business of each and every one of the
companies comprising our portfolios, and our aim is to obtain a “reasonable”
average return, which can be seen in the value of our management, as we always
avoid speculative or “irrational” investments. We believe that the best way of
obtaining this return for our clients is by investing in well-managed,
under-valued businesses, which we understand and boast large long-term upside
potential.
We began investing in Spanish equities in 1993 and in the past 14 years we have
achieved an average
annual return of 23,10%. In 1998 we decided to start investing in
international equities, obtaining an average
annual return of 13,77% over nine years. In 1994 we were awarded the
first of many prizes for the best Spanish equities fund and since then we have
been awarded 39 other prizes from the most prestigious mutual fund rating
agencies.
Due to the returns achieved and especially given the solid performance of our
Funds and Sicavs during the stock market crash of 2000-2002 -in 2002 our
Spanish equities fund obtained an 8% return vs. a 28% fall by the Ibex- our
customer numbers have swelled to more than 32,000 whilst we currently have the
second largest Spanish equity fund.
WHO IS
ACCIONA is one of the
leading Spanish and international business groups in the
development, promotion
and management of Infrastructure, Real Estate, Renewable Energies and Services.
The company is present in
five
continents and employs more than 40,000 people. It trades on the
selective IBEX-35 index and has a market capitalisation of around 5700 billion
€.
Acciona's strategic
positioning is based on two main features which encompass all its activities:
sustainability and social wellbeing are key to economic growth, ecological
balance and social progress.
Acciona has
6 main business
lines, as well developing Other Businesses and interests in the
financial and food sectors:
- Infrastructure
- Real Estate
- Energy
- Water
- Logistics and Transport Services
- Urban and Environmental Services
In 2008, ACCIONA recorded net
profit of 464 million €, a 51% decrease. Sales were 12.665 billion €, a 59% increase.
EBITDA rose by 101% to 2.827 million €, whilst EBIT rose by 89% to 1.678 million €.
OUR SERVICES
Bestinver Gestión
Collective Investment Institution
[
CNMV
Registered Number 103]
Mutual Funds and Sicavs
Manager (open ended investment company)
Personal Portfolio
Management from €6mn
Bestinver Pensiones
Pension Fund Manager
[
DGS
Registered Number G0179]
Pension Fund Manager
Bestinver Sociedad de Valores
[
CNMV
Registered Number 74]
Brokerage services
Member of the Madrid Stock
Exchange
BESTINVER's MANAGEMENT
90% of managed assets
are in equities.
11,64% market share in
Spanish equity funds (4th largest).
Second largest Spanish
equities fund (
Bestinver Bolsa)
Investment decision-making
independent of Acciona.
In 2003 Bestinver was
chosen by Sycomore Asset Management among all Spanish fund managers to
co-manage the
Synergy Smaller
Companies, a pan-European mutual fund managed by several fund managers
in France, Germany, Holland, Italy and Spain with a Value investment approach
and an excellent long term track-record.
Bestinver currently has
several management contracts for both its national and international portfolios
with a range of international financial entities that have set up their own
funds and Sicavs and entrusted Bestinver with their management (Manager of
manager).Our
Bestinver Bolsa,
Bestinfond and
Bestinver
Internacional funds have been selected by various foreign financial
institutions and advisors for inclusion in their funds of funds portfolios and
Sicav (open-end investment) funds.
In 2006, Bestinver’s two
managers have been awarded the top rating (triple A) by Citywire, Europe’s
foremost fund manager analysis agency. Only ten people in Spain have been
awarded this rating.
Bestinver
Bolsa and
Bestinfond were
the only Spanish equity funds to end 2002 with positive returns, generating
8.25% and 8.17% respectively, compared to a correction in the IBEX-35 that year
of 28.1%, its biggest loss since 1991.Since 1994, Bestinver’s investment funds
have received 54 prizes from the three leading investment fund analysis houses:
Morningstar, Lipper and Standard & Poors.
BRIEF HISTORY OF BESTINVER
1987 Bestinver
S.A. is incorporated.
1988 Bestinver
Gestión S.G.I.I.C. is incorporated.
1989 Bestinver
Sociedad de Valores is incorporated.
1991 Bestinver becomes a member of the Madrid Stock
Exchange. Tibestfond, Bestinver's first mutual fund, is created.
1992 Bestinfond,
Bestinver's first equity fund, is created.
1994 Bestinver receives its
first award: Bestinfond wins the Expansión newspaper's
Salmón award for the best Spanish equity fund. Bestinver recibe su
primer premio: Bestinfond es elegido mejor fondo de renta variable española en
los premios Salmón del Diario Expansión.
1996 Bestinver
Ahorro, Bestinver's first pension fund, is set up.
1997 Our first global equity fund is constituted.
Bestinver Internacional.
1999 Bestinver's Spanish equity funds sustanied their
first and only annual loss in a year that featured the tech boom.
2000 Bestinver's managers, faithful to their
investment policy, opt not to invest in technology stocks given their
exorbitant prices.
2001 Bestinver is rewarded for having shied from these
stocks by outperforming both the domestic and
global indices in the year by more than 27%.
2002 Global stock market losses suffer their third
straight year of losses caused by the bursting of the tech bubble.
Bestinver Bolsa and
Bestinfond
are the only Spanish equity funds to end the year in the black. Despite
outperforming its benchmark by 6%,
Bestinver
Internacional sustained a loss, hurt by the dollar's depreciation.
Bestinver Gestión wins the Inversión magazine
award for best equity fund manager of the year.
2003 Bestinver is chosen to co-manage
Synergy Smaller Companies, a pan-European value fund managed by the
leading value fund managers in the various countries.
2004 Bestinver
Internacional wins the Lipper-5D
award as the best 5-year global fund.
2005 Bestinver Pensiones
wins the Morningstar-Intereconomía award for mixed funds for the
second year running. 2000-2005 Bestinver wins 37 equity management
awards.
2006 Assets managed by Bestinver exceed
€3 billion.
Bestinver Mixto
Internacional fund is launched. Bestinver managers
awarded top rating (triple A) by Citywire.
2007 Bestinver wins best equity manager award
(Inversión magazine). Three of our funds win
Lipper Funds Awards as the best performers in the five-year period
category. We also win four
S&P
awards. Bestinver Hedge Value Fund is launched.
