If a sharp fall does not prevent it between now and the end of the year, Bulnes Global, The fund advised by Javier Morales for the private banking network of rural savings banks is about to win its second trophy as best active international equity vehiclewithin the Global League of the active management of elEconomista.es, made up of 353 funds, of which just over half are products from Spanish management companies.
Bulnes Global It is unbeatable not only among its domestic competitors but also with respect to international managers, which are behind the 37.49% it achieved in the year, with Morningstar data as of December 20.
It had already managed to exceed 40% profitability, but the correction of the main North American stock market indices that caused the FED’s decision to slow down the reduction in interest rates, which caught the market by surprise, brought its escalation to a screeching halt, as did than that of many other global stock funds that count among their main positions the large technology firms in the United States.
In fact, before the North American central bank decided to lower expectations regarding the downward evolution of rates, a third of the funds of the Global League managed to surpass the performance of the MSCI World. After this event, only 56 products are capable of surpassing this index, one of the main indicators to measure the evolution of the global stock market.
But the revaluation of Bulnes Global is still superior to that of its competitorswith a difference of just over three percentage points from its most direct rival, MainFirst Global Equities Fund A, which gains 34.15% for the year. And a little further away from GS Global Future Gen Eq E, MainFirst Global Eq. Unconstrained, Invesco Global Founders & Owners, Acadian Sustainable Global Equities and Sycomore Fund Global Happy@Workwhich provide between 33.70% and 30.13%.
Spanish funds like Arquia Banca Leaders of the Future A and Rural RV International They remain well positioned within the classification, with 30.09% and 29.40%, respectively.
At the bottom of the table, MyInvestor Value, Santander Small Caps Europe, Valentum, True Value and Muza They continue to be the Spanish funds with the worst performance in the elEconomista.es classification, with falls that reach almost 10% in the vehicle managed by Carlos Val-Carreres.
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