Bestinver Asset Management’s fund manager Francisco Garcia Parames will be leaving the company to start a new project, according to a statement released by Efe.
Parames has spent 25 years at Madrid-based Bestinver where he managed above €7.5bn in Spanish and international stocks. The portfolio manager, known as the "European Warren Buffet" because of his pure value style, has achieved one of the highest returns in the market during this period placing his funds amongst the first places of their category.
The fund manager moved to London from Madrid in June 2013, where he worked with two associates, Alvaro Guzman de Lazaro and Fernando Bernad. Parames thanked Bestinver, part of the Spanish construction conglomerate Acciona, as well as all the investors who trusted him with the management of their savings, for "providing him with the opportunity to develop an exciting professional career".