Five Spanish funds are among the most profitable in Morningstar’s Euro Cautious Global Mix category. A milestone considering that it is a group made up of 246 products, with very relevant international firms, such as M&G, Schroders, Fidelity, Allianz or Pimco. With data as of September 10, the last date updated for most of the funds, Ábaco Renta Fija Mixta Global , managed by Pablo González, leads the group with a yield of 13.63%.
This percentage is ten points above the category average, which stands at 3.07%, and also allows it to distance itself from its closest competitors, which are also two other Spanish funds: Gestion Boutique V RF Mixta Global , managed by Ferrán Casarramona, and DIP Lift Income R1 , advised by Lift AM for A&G, which achieved 9.59% and 8.43%, respectively. Fonmaster 1 , managed by the multifamily office Mdef Gestefin, is in eighth place, with 6.9%, while Ibercaja Sostenible y Solidario , with 6.34%, is placed in tenth position.
It should be noted that only the manager Schroders ranks with Schroder ISF Glbl MA Bal B Acc EUR among the ten best global mixed funds, since all the other firms are investment boutiques, as is the case of the aforementioned Spanish companies, the Portuguese subsidiary Dunas Capital, the Swiss Mirante Fund Management or Kredietrust Luxembourg, a Luxembourg subsidiary of the private bank KBL European Private Bankers.
This successful performance of the mixed funds has been accompanied by the interest of investors in this type of product, which is one of those with the highest net inflows of money in the year. According to the latest data from Inverco , international fixed-income mixed funds have raised 4,126 million euros in the year, only behind the global ones, which get almost 6,000 million. And the mixed funds of international variable income, with 3,574 million euros, are the third by category that more net subscriptions are obtaining until August.
These good results from Spanish independent firms contrast with the more modest returns that the large flagships in this category are providing, among which are the M&G Lux Optimal Income , which manages 14,000 million euros of equity, or the Quality Inversión Conservadora of BBVA, with a net worth volume of 9,000 million, which gained 2.06% and 2.48%.
At Ábaco Capital they explain that the fund’s result is the result of investing with a value philosophy. “We look for cheap opportunities, looking at the entire capital structure of companies. This allows us to find value sometimes in bonds, sometimes in convertibles or hybrids, in addition to stocks. For the fixed income part, our strategy is to buy bonds with assets real, whose value covers several times the net debt. We have found new ideas with exposure to emerging markets and in the maritime transport sector “, points out Pablo González, CEO of the firm and manager of the Global Mixed Fixed Income Abaco.
In equities, one of the main positions is the AB Inbev brewery, a company “with a lot of quality that offers us the opportunity to co-invest with the Brazilian 3G group and position ourselves in emerging markets, especially in Asia, where they want to consolidate the beer market “while in fixed income they have conviction in International Seaways,” a firm controlled by several prestigious investment groups and one of those in the oil transportation and derivatives sector with less debt and better capitalized.
Jorge Posadas, partner and director of investor relations at LIFT, the firm that advises the A&G fund, underlines that for the latter part of the year they have not reduced their exposure to equities or fixed income. “We are highly convinced of our portfolio, where some of our main positions are Miquel y Costas, Bayer or Danone in the variable income part, while in fixed income, we have bonds of Estada, Fertiberia or GoldenGoose”, points out Posadas.
For her part, Miriam Fernández, manager of the Ibercaja Sostenible y Solidario, points out that “in fixed income we have continued to invest in investment grade bonds and in new high yield or high yield bonds that are coming on the market, maintaining the duration at the same levels. In equities, the level of portfolio exposure has fluctuated little in the year, always around 45% “.
Those responsible for the Incometric Dunas Patrimonio explain that “the portfolio remains very liquid, with a maximum exposure to the stock market combined with a portfolio of sovereign bonds from G-7 countries whose duration we manage tactically, taking advantage of the significant movements in long-term interest rates. Exposure to corporate debt remains at very low levels, as the combination of liquidity and risk / return has seemed less interesting to us. ”
Florida Congressman Supports ‘Natural Immunity Is Real Act’ – Latest Push Opposing Vaccine Mandates
Florida Congressman Daniel Webster has co-sponsored a bill — called Natural Immunity is Real Act — introduced by Tennessee Congresswoman Diana Harshbarger. The bill is the latest push against vaccine mandates by federal health officials as it requires federal agencies to take into account naturally acquired immunity from previous COVID-19 infections when issuing any rules or regulations aimed at protecting from the deadly virus.
What is Natural Immunity Is Real Act?
A group of House Republicans launched the Natural Immunity is Real Act on Monday, Click Orlando reported.
According to Webster, he is supporting the bill because peer-reviewed studies and federal health experts acknowledged that those who have recovered from COVID-19 have natural immunity protection.
Webster also said that the bill is just a way of saying that there are other options for protecting the people against the virus than just the vaccine.
The Florida Congressman also said that though he endorses and supports the COVID-19 vaccines, he is openly against vaccine mandates and federal regulators must accept other protections from the virus.
“This is not anti-vaccine, [it’s] just a realization that there are other things going on out there and we have to accept there are other immunities from having the disease,” he was cited as saying by the outlet.
Members Of Medical Community Oppose The Bill
Pediatric pulmonologist Dr. Akinyemi Ajayi expressed his disagreement over the bill.
“Here is the problem with the whole natural immunity argument, and it’s the fact that quite frankly today none of us can look you in the eye if you have not been infected with COVID at all and say if you get COVID it will be a mild infection you don’t have to worry about it,” Ajayi said.
Ajayi added that even though some natural immunity protections are developed from a repeat infection, it is unclear how long the protection lasts. He believes that there is provable way to identify natural immunity.
The bill introduced, however, does not include details of how the natural immunity will be identified.
The Natural Immunity Is Real Act has already been introduced in the senate, the same week that Florida Gov. Ron DeSantis announced a request for a special session over vaccine mandates.
Florida Man Faces $50 Daily Fine Over Hanging ‘Trump Won’ Banner Outside His Home
A Florida man faces a $50 daily fine for displaying a banner outside his home that reads “Trump has won,” a reference to the former Republican President Donald Trump.
Plans to Place ‘Let’s Go Brandon’ Banner
Part-time resident Marvin Peavy will be charged by the Walton County, Florida, a $50 daily fine beginning on Oct. 25 if he doesn’t take down the banner from outside of his home, Newsweek reported.
Peavy said he also plans to install a banner that says “Let’s Go Brandon,” which is a phrase the conservatives have mixed with “F*ck you, Joe Biden,” — a clear insult to President Joe Biden.
According to the county, the part-time resident’s banner violates signage regulation in Peavy’s home at the 30A scenic corridor. The corridor is also a part of a beachside route, famous for its natural beauty.
As per the county’s legal code, political signages must be removed 15 days after political campaigns conclude.
Further, Peavy’s banner, according to county officials, also violates a section of the code prohibiting homes from putting up “(s)treamers, feather flags, pennants, ribbons, spinners and other similar devices” that might undermine the corridor’s natural beauty.
According to Northwest Florida Daily News, Peavy has no plans of taking the banner down, saying that he can easily pay the fine and others offered to pay it on his behalf.
But his attorney told Charles Cronin, Walton County Code Enforcement Officer, that Peavy knows of the violation and would take the banner down soon, the report said.
Peavy Defends Himself: ‘How Many Trumps Do You Know?’
The display of the banner is to annoy “seaside liberals” and “the 1 percent leftists,” Peavy was quoted as saying by Newsweek. Peavy has also claimed that the banner may indicate Trump’s self-proclaimed golfing championships and not the recent election.
He also stated that the banner may refer to others, not the former president, asking, “How many Trumps do you know?” The banner is also “just a statement” for Peavy, and “not political,” the report said.
He is set to sue the county for breaching his First Amendment Right.
Peavy’s Financial Support To Trump During 2020 Election
Back in the 2020 campaign season, Peavy had donated more than $9,000 to different Trump and Republican-related groups, according to the records from the Federal Election Commission.
Florida Gov. DeSantis Threatens Biden Administration With Lawsuit Over COVID-19 Vaccine Mandate
Florida Governor Ron DeSantis has threatened to sue the Biden administration over the COVID-19 vaccine mandate.
His comments came during a press conference Thursday on the monoclonal antibody treatments that he worked on to have it more accessible in the state.
DeSantis: I Think Mandate Is Going To Lose In Court
At the press conference, DeSantis said that he thinks that the mandate is going to lose in court. He added that Florida would contest any such mandate from the Biden administration “immediately,” and that any lawsuits from the state would be filed in the 11th U.S. Circuit Court of Appeals, Fox News reported.
The governor also stated that the state would fight “immediately” any mandates of such that would be given by the Biden administration. He also added that any lawsuit from Florida would be filed in the 11th U.S. Circuit Court of Appeals.
“We think the state of Florida has standing to do it…We also know businesses that we’re going to work with to contest it,” the governor said.
DeSantis also mentioned that the state has a responsibility at a state level to do anything to protect its constituents from mandates that would affect them such as losing their jobs.
DeSantis Vs Biden
De Santis and President Joe Biden have different stand regarding vaccine and mask mandates. The latter, soon after taking office, issued a mask mandate on federal grounds while DeSantis banned mask mandates in the state of Florida.
In the previous month, Biden had announced that all businesses that have over At a hundred workers would have to vaccinate their employees or conduct weekly testing. The announcement included the mandate that employers must pay their employees for the time they spent off work getting the vaccine and recovering from any side effects.
Vaccination Rates In The U.S.
The country has already administered 407 million doses of COVID-19 vaccines. Currently, 189 million or about 57% are fully vaccinated while nearly 218 million or 66% have received their first dose of the COVID-19 vaccine.
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