Letters to our co-investors

Dear co-investor, Finally, a very difficult year for everyone has come to an end. I can add little to the encouragement and gratitude for your trust that we have shown you in our previous letters.

Dear co-investor, We finished another quarter affected, to a greater or lesser extent, by the evolution of the pandemic and the decisions made by our governments. It is difficult to get used to this…

Dear co-investor, We finished a quarter marked, once again, by the huge impact that covid-19 has had on our lives. A quarter in which we can at least hope that the worst is over. I would like to give…

Dear co-investor, We finished what has been one of the most challenging quarters we have ever experienced, both professionally and, of course, personally. Therefore, I would like to start by thanking…

Dear co-investor, We end a year that has been marked, as you know, by (very) high volatility in equity markets, caused by global political and economic uncertainties. As we have stressed in previous…

Dear co-investor, We finish the third quarter of 2019, a period of continuity with respect to previous quarters, in which investors' money continues to flow towards certainty, at any price, and flees…