A Spanish fund brings out the colors of M&G Lux Optimal Income. Abaco RF Mixta Global gains 13.5% in the year, eleven points more than the fund of the British manager.
A Spanish fund of just 49 million euros is becoming this year’s revelation, within the defensive global mixed products, according to the Morningstar ranking.
This is the Global Mixed Fixed Income Abacus , which offers 13.51%, with data up to August 4, eleven points more than the well-known M&G (Lux) Optimal Income A Eur , managed by Richard Woolnough, which with more than 14,000 million euros of assets is the largest fund in its category.
The product of Ábaco, the Spanish boutique founded by Pablo Rodríguez, also outperforms other large vehicles, such as BBVA’s Quality Inversión Conservadora , which manages almost 9,000 million euros and offers 2.61% in the year; the Pictet Multi Asset Global Opportunities , with a size of almost 8,500 million euros, which provides 3.20%; the Caixabank Soy Así Cauto Universal , which manages just over 6,100 million euros and has a yield of 2.79%; or the Sabadell Prudente Base (3,625 million equity), which gained 2.46%.
The good data from the Global Mixed Fixed Income Abaco throughout this year are offsetting the significant losses it suffered in 2020, when it closed with a 7.63% drop, a situation that large funds, except for Quality Conservative Investment, achieved Dodge. Even so, with the revaluation that has accumulated so far, it exceeds the performance of the largest defensive mixed funds since last year.
Ábaco Capital, which also has a variable income product, Ábaco Global Value Opportunities , is characterized by applying a value strategy in the selection of securities, including in the fixed income part.
The solidity of the balance sheet of the companies is the most important factor when making the investment decision, according to those responsible. Among the main positions of its mixed fund are Teekay Corporation, Lloyds Banking, Corecivic, Anheuser Busch InBev, Gestamp and International Seeways, in a portfolio in which financial services and industrials account for half of the positions.