Miralta

Narval Europa

A unique fund in an ocean of investments

Every investor has their own investment objectives, but they all have the same goal of protecting their wealth and increasing their equity.

Our equity fund aims to grow its investors’ capital at a faster rate than the stock markets over the long term. We invest in leading European multinational companies to benefit from global growth and development. We seek value in great companies. Regardless of the sector in which they operate, Narval Europe invests in companies with a strong culture of innovation so that, as long-term investors, we place our capital in companies capable of creating their own future.

Benefit from long-term strategies with Miralta Narval Europe. Outperform the indices with maximum risk containment.

CLASE A

PERFORMANCE ↓

73.27 %

Since inception

191.002931€

Net asset value* as at2025-05-15

-0.51%

Daily valuation

  • YTD
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 13.9%
  • 22.12%
  • 19.75%
  • -11.29%
  • 12.70%
  • 16.73%
  • 8.12%
  • -11.27%
 

DETAILS OF THE FUND ↓

EVOLUTION OF THE NET ASSET VALUE

Evolutivo valor liquidativo - Narval

HISTORIC class A FUND – Data as at close of business 04/30/2025. Source: Miraltabank.
From 23/12/2022: Change in Class A management fees (1.20%/9% success) and change in benchmark index to MSCI Europe.
From 02/11/2020: Class A data valid until 23/12/22 with management fee of 1.60%, and benchmark Stoxx600 TR.
Before 02/11/2020: Class A data valid until 02/11/20 with management fee of 1.10% and Stoxx600 TR benchmark”

Managers’ comments

During April, markets embarked on a true round-trip journey — almost epic, Tolkien-style. When long-term bond yields once again approached the 5% mark, anunexpected shift in Donald Trump’s rhetoric reactivated the so-called “Trump put,” serving as the catalyst for a historic rebound that took many institutional investors bysurprise, as they continued to flee the U.S. market. Retail investors, in contrast, took advantage of the sharp correction to strengthen their positions in large-cap techstocks and some of their favorite names, such as Palantir. The stark divergence between the cautious underweighting by institutional players and the confidence shownby retail investors strongly recalled the most turbulent moments of the COVID-19 crisis. In this context, the fund closed the month with a 3.38% return in its Class Ashares, while major indices ended slightly in the red.

At the worst point of the correction, the fund’s decline was only half that of the indices. We took advantage of April’svolatility to raise our exposure band to approximately 90% (+30%), locking in profits from hedges, initiating positions in the U.S. financial sector (banks, asset managers,and brokers), and adding to existing holdings such as Palantir, Alphabet, Flow Traders, Galaxy, Prysmian, and Leonardo. We also increased our exposure to Europeancar manufacturers. Despite this, we prefer to maintain a nimble stance over the coming weeks, given the persistently high level of latent risk in the market.

GENERAL DETAILS

  • CNMV Registration No
  • ISIN Code
  • Launched on
  • Currency
  • Type of assets
  • Benchmark index
  • Management fee
  • Deposit fee
  • Minimum investment
  • Auditor
  • 5200
  • ES0173367048
  • 22/11/2020
  • Euro
  • Monetario, renta variable, gestión
  • STOXX Europe 600 Net Return
  • 1,20% / 9% éxito
  • 0,10% /0,075%
  • 100 €
  • ERNST & YOUNG, S.L.

CLASS A DETAILS

  • Net asset value* as at 2025-05-15
  • Variation of the net asset value as at 2025-05-15
  • Fund assets as at 2025-05-15
  •  
  • BASIC RETURNS
  • 1 day
  • YTD
  • 1 month
  • Since inception
  • 191.002931€
  • -0.51%
  • 13,997,436.39€
  •  
  •  
  • -0.51%
  • 13.9%
  • 6.47%
  • 73.27%
  •  
  •  

Documentation

(*): The net asset value and other informative documents of the funds available on this website are published in compliance with article 18.2 of the Law on Collective Investment Undertakings under the responsibility of Miralta Asset Management SGIIC, S.A.U., which is responsible for updating and maintaining them.

Data as at EOB 04/30/2025. Source: Miraltabank. The return expressed above is net of fees and expenses. Past performance is not indicative or a guarantee of future returns.

Track record Narval ↓

European Large Cap Equity Fund

• 5-star rating in category: Europe Large-Cap Blend Equity (4/12/2024)

• Best 1, 3 and 5 Year Europe Large-Cap Blend Equity Fund

• Rating 5 stars in category: EV Europa Large Blend February 2023

• Rating 5 stars in category: EV Europa Large Blend January 2023

• 5-star rating in category: EV Europa Large Blend during 2022

Our pillars ↓

• Financial Method

• Sustainable Investment

• Active Management

Legal Notice ↓

 

MORE INFORMATION ↓

Personal information

OTHER PRODUCTS THAT MAY INTEREST YOU ↓

MiraltaBank

Sequoia

Our fixed-income fund, based on a tacit approach to the markets. More flexibility and diversification.

More information

MiraltaBank

Pulsar I

Our hedge fund (HF), a solution to the complex fixed-income investment scenario

More information

MiraltaBank

Pulsar II

New free investment fund (FIL) designed as a strategic solution for both investors and companies.

More information

Start Investing