The life of Francis, a baker from the Sevillian town of Pilas, took a 180 degree turn in May 2011. That month he won a EuroMillion of 121 million euros, and overnight Francisco Manuel Delgado Rodríguez, 36 years, he closed the bakery where he worked with his father, he devoted himself to one of his main passions, traveling around the world, and created three variable capital investment companies (SICAV): Noviembres Inversiones, Eudel Inversiones and Delquin Investments to manage your newly acquired wealth.
The third biggest winner in Spain of a Euromillion – the first one pocketed 190 million thanks to a ticket presented in an administration of a shopping center in Las Palmas de Gran Canaria in 2019 -, trusted Banco Santander and JP Morgan to advise him on your investments.
Now, ten years after closing his bakery, Francisco Manuel Delgado Rodríguez has also chosen to close down the last of his sicavs after having left this vehicle as a site. Previously, it did the same in its other two vehicles. The investor has communicated to the CNMV that the sicav will be dissolved and liquidated. Noviembres Inversiones had assets of 8.2 million euros at the end of the first semester of the year, far from the 30.9 million it reached in 2019. That same year, the three vehicles totaled 90.6 million euros. of equity, according to the accounts deposited with the market regulator.
Throughout 2020, the Sevillian investor was rolling the assets of the sicav. According to CNMV records, in June it sold shares that reduced the outstanding capital by 45.83% and in just six months later it did so again by another 49.35%.
Delgado Rodríguez and his family are members of the sicav’s board of directors. Specifically, he serves as president and four of his family members as directors.
The vehicle had 311 shareholders, although Delgado Rodríguez held 99.51% of the capital. Its portfolio consisted of 89.4% investment funds from DWS, Amundi, Axa, BlackRock, Candriam, JP Morgan, Carmignac, Groupama, Pictet, Robeco and Fidelity.
Of all of them, the one that contributed the most during the first six months of the year was one from Axa, the Axa Rosenberg Equity Alpha Trust, which invests mainly in the United States, by 99.5%, and which has stocks among its main portfolio positions. of big technology: Microsoft, Alphabet, Apple, Amazon and Facebook. And the fact is that the FAANG index, which also integrates Netflix, accumulates a revaluation of 20% so far this year and is located in an area of historical maximums.
The Delgado Rodríguez sicav achieved a profitability of 5.73% in the first half of the year, a period in which it chose to liquidate its presence on the Spanish Stock Exchange. Until then it had been present in the capital of Santander and Telefónica. In 2020 the vehicle lost 2.1% penalized by the effect of the pandemic on its investments.
The closing of November is in addition to that of Eudel, which became effective last March and was carried out with the same modus operandi: the investor was selling its positions in the market throughout 2020, until proceeding to its liquidation. The same happened with the third Sicav of the Sevillian investor and the first to be liquidated. In October 2020, it was excluded from BME MTF Equity and removed from the registry of the National Securities Market Commission.
Beyond its investments through the vehicle preferred by the great Spanish fortunes for decades, but in the eye of the hurricane for a couple of years due to the intention of the political parties to change their taxation, Delgado Rodríguez has a patrimonial company, Murillo 7 Inversiones, named after the address of the old bakery, which today it maintains as a garage. The company is dedicated to the sale, possession, administration, management and exploitation of participations, shares, titles and securities of commercial companies, national or foreign.
USA. Another of the Sevillian investor’s bets is also focused on securities of the US Stock Exchange. The Robeco BP US Premium Equities IH Euro fund has a 94% exposure to the US Stock Market, and has among its main portfolio positions the sanitation firms Johnson and Johnson (3.17%) and Medtronic (2.26%) and the banks Bank of America (2.37%) and JP Morgan (2.10%).
Europe. The MFS Meridian Funds-European Value fund, another of Noviembres Inversiones’ choices that performed the best during the first half of the year, is this vehicle, which bets on European equities that are considered undervalued. So far this year it rents 17.6% and has among its main positions Nestlé, Novo Nordisk, Schneider Electric, Pernod Ricard, Diageo, Legrand and Iberdrola.
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