The world’s main stock markets continue to rise, with the ever-present fear of a return to volatility at any moment. Many global equity funds have accumulated returns of over 10% this year, including those of many Spanish management companies. The Banco Cooperativo Español fund has been highlighting for months that Bulnes Global Awhich ranks second among the most profitable of the year among all those with active management marketed in Spain, including those of international entities. This fund has 5 Morningstar stars, which is the highest rating that the entity obtains in terms of profitability, risk and commissions. Another investment vehicle 5 stars now manages to be among the 15 most profitable of the year.
It is about Miralta Narval Europe Aa fund of Grupo Miralta that has a profitability of more than 14%, with which it climbs to 15th place in the ranking of The World League of Active Management who elaborates elEconomista.es with products uncorrelated with their benchmark indices. Over five years, the annualized return is 11.15%.
In its latest half-yearly report, the entity explained that it had benefited from “the weakness of French assets to increase exposure to the country through certain defense companies (Thales, Dassault Aviation, Dassault Systèmes, Airbus), banking companies (Société Générale), real estate companies (Gecina and Unibail) and utilities (Engie)”. And they added: “We also took advantage of the corrections in AI and chip companies to regain exposure to Microsft and ASML. Opportunistically and given the sharp correction in BBVA shares due to its attempted takeover of Sabadell, we took advantage of the decline to slightly increase the weight in the stock.”
Among the 15 best global equity funds this year, besides the two mentioned, there are three other Spanish products: Ibercaja Megatrends A, International standard for rural motorhomes And Arquia Banca World Leaders A.
The Ibercaja vehicle, rated 4 stars, remains the fourth best in the entire ranking, with a profitability of 18.25% according to Morningstar data as of September 9. Meanwhile, the International standard for rural motorhomes (also from Banco Cooperativo Español, like the Bulnes Global A) defends a position among the top ten of the year, with 15.27%.
