Fernando Bernad

Founder at

AzValor Asset Management SGIIC SA

Finance

Profile

Mr. Fernando Bernad CFA, is a Founding Partner & Co-Chief Investment Officer at AzValor Asset Management SGIIC SA. He began his professional career as an Investment Analyst in 1998, spending two years at Frankfurt Value Management & Research.
He returned to Spain in 2000 and joined the risk capital sector as an Associate with BNP Paribas “Leveraged Finance”.
Mr. Bernad Marrase then joined the analysis team at Banesto as an Analyst for the cyclical sector (steel, oil), going on to join and then lead the analysis team at Interdin, where his strategy focused on developing investment ideas based on the value theory.
In 2005, he joined Vetusta Group as a director.
In two years at the helm of Vetusta, he achieved average annual variable income growth of around 30% for his clients.
He joined the management team of Bestinver in February 2007, where he worked until December 2014.
Mr. Bernad holds a degree in European Business (summa cum laude, jointly from ICADE, Madrid and Northeastern University, Boston).

Fernando Bernad active positions

Companies	Position	Start
AzValor Asset Management SGIIC SA AzValor Asset Management SGIIC SA Investment ManagersFinance AzValor specializes in variable income, with the ability to identify good investments that have generated long-term profit. Their “Value Investing” philosophy is consistently able to achieve above-index returns over the long-term through the application of some strict investing principles. The firm invests in good businesses that offer sustainable competitive advantages over time, high Returns on Capital Employed (ROCE), are led by a strong management team that oversees its shareholders’ interests and whose intrinsic value is not reflected in their share price.	Founder	15/01/2008

All active positions of Fernando Bernad

Former positions of Fernando Bernad

Companies	Position	End
Banesto Bolsa SA Sociedad de Valores Banesto Bolsa SA Sociedad de Valores Investment Banks/BrokersFinance Provides brokerage services	Analyst-Equity	29/11/2004
Bestinver Gestión SA SGIIC Bestinver Gestión SA SGIIC Investment ManagersFinance Bestinver is a long-term, value-oriented manager which aims to unlock value in their investments by conducting extensive company visits. They utilize industry publications, industry contacts and analyst reports, seeking to acquire in-depth knowledge of target companies. The firm believes that the best way to obtain above average returns is by investing in well-managed, sustainable, cash-generating, under-valued businesses which they understand and which have significant long-term capital upside.	Portfolio Manager-Equities	-

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Linked companies

Private companies	3
Bestinver Gestión SA SGIIC Bestinver Gestión SA SGIIC Investment ManagersFinance Bestinver is a long-term, value-oriented manager which aims to unlock value in their investments by conducting extensive company visits. They utilize industry publications, industry contacts and analyst reports, seeking to acquire in-depth knowledge of target companies. The firm believes that the best way to obtain above average returns is by investing in well-managed, sustainable, cash-generating, under-valued businesses which they understand and which have significant long-term capital upside.	Finance
Banesto Bolsa SA Sociedad de Valores Banesto Bolsa SA Sociedad de Valores Investment Banks/BrokersFinance Provides brokerage services	Finance
AzValor Asset Management SGIIC SA AzValor Asset Management SGIIC SA Investment ManagersFinance AzValor specializes in variable income, with the ability to identify good investments that have generated long-term profit. Their “Value Investing” philosophy is consistently able to achieve above-index returns over the long-term through the application of some strict investing principles. The firm invests in good businesses that offer sustainable competitive advantages over time, high Returns on Capital Employed (ROCE), are led by a strong management team that oversees its shareholders’ interests and whose intrinsic value is not reflected in their share price.	Finance