ESP 
Miralta
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 ↓
115.41 %Since inception
237.453455€
Net asset value* as at2026-04-20
-0.39%
Daily valuation
- YTD
- 2025
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
- 2018
- 12.29%
- 26.11%
- 22.12%
- 19.75%
- -11.29%
- 12.70%
- 16.73%
- 8.12%
- -11.27%
DETAILS OF THE FUND ↓
EVOLUTION OF THE NET ASSET VALUE
HISTORIC class A FUND – Data as at close of business 03/31/2026. 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
March was defined by the outbreak of conflict involving the US, Israel, and Iran, with the ensuing fallout in energy markets acting as the dominant theme of the month.The threat of a closure of the Strait of Hormuz sent Brent crude spiking to near $115 per barrel, stoking stagflation risks and dragging global markets lower: the STOXX600 shed nearly 8%, marking its worst month since 2020, while the S&P 500 pulled back 5.1%, wiping out its year-to-date gains. While both the Fed and the ECB heldinterest rates steady, their tone was markedly more cautious. Lagarde left the door open to rate hikes as Eurozone CPI rebounded to 2.5%, driven by energy prices. Onthe geopolitical front, the peace process in Ukraine was put on indefinite hold, sidelined by the focus on the new conflict in the Middle East. Against this backdrop, theClass A portfolio posted a return of -4.78%, outperforming its benchmark, which fell 7.68%’.
We entered the month with light exposure, which allowed us to bettercushion the drawdowns and use the market corrections to gradually scale back into risk. We took profits in energy and defense, rotating into industrials and themes withstructural tailwinds under the new resource sovereignty paradigm. Furthermore, we continued to concentrate the portfolio in our highest-conviction holdings.
GENERAL DETAILS
- CNMV Registration No
- ISIN Code
- Launched on
- Currency
- Type of assets
- Benchmark index
- Management fee
- Deposit fee
- Minimum investment
- Auditor
- Assets
- Shareholders
- 5200
- ES0173367048
- 22/11/2020
- Euro
- Monetario, renta variable, gestión
- MSCI Europe
- 1,20% / 9% éxito
- 0,10% /0,075%
- 100 €
- ERNST & YOUNG, S.L.
- 30,789,254.00€
- 728
CLASS A DETAILS
- Net asset value* as at 2026-04-20
- Variation of the net asset value as at 2026-04-20
- BASIC RETURNS
- 1 day
- YTD
- 1 month
- Since inception
- 237.453455€
- -0.39%
- -0.39%
- 12.29%
- 8.17%
- 115.41%
Documentation
Sustainability
Legal
General
A Class
C Class
(*): 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 03/31/2026. 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
• Top 3 fund 3 years RV Europa Cap. Grande Blend
• 5-star rating in category: Europe Large-Cap Blend Equity (1/10/2025)
• 5-star rating in category: Europe Large-Cap Blend Equity (4/12/2024)
• Rating 5 stars in category: EV Europa Large Blend February 2023
• 5-star rating in category: EV Europa Large Blend during 2022
Our pillars ↓
• Financial Method
• Sustainable Investment
• Active Management
MORE INFORMATION ↓
Personal information
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