Hamco Capital Ltd.

What Hamco Capital Ltd. does

HAMCO AM SGIIC, S.A. is an independent Spanish asset management firm (Sociedad Gestora de Instituciones de Inversión Colectiva) registered with the CNMV under number 293 in 2024, headquartered at Paseo de la Castellana 141, Madrid. The firm manages two global equity strategies: Hamco Global Value Fund (deep value, ~€216.7M AUM) and Hamco Quality Fund (quality value, ~€44.67M AUM), for combined AUM of approximately €260M as of June 2026. The firm's investment lineage traces back to CIO John Tidd Kimball's Horizon Growth Fund (1999–2019) and a stated track record of positive returns in every full calendar year from 2020 to 2025; portfolio holdings span 30+ countries including significant Asia-Pacific exposure (Korea 24%, Indonesia and Philippines 11% each, USA 21%). Class F of the flagship was closed to new investors in March 2026 ahead of the stated €750M capacity ceiling.

The business model is classic active asset management. Revenue comes from tiered management fees (Class R 0.90%, Class I 0.65%, Class F 1.70%) and performance fees of 9% over high-water marks on Class R and Class I. Distribution is entirely third-party: Allfunds and Inversis platforms plus 40+ Spanish banks and private banks (Andbank, Bankinter, Santander Private Banking, Renta 4). Customer segments are stratified by minimum ticket — Class R (retail, €100 minimum), Class I (professional, €250K minimum), Class F (institutional/UHNW, €100K minimum, now closed in the flagship). Target end investors are Spanish retail savers, family offices, and professional clients seeking deep-value global equity exposure; the 2025 Luxembourg SICAV registration extends the addressable market beyond Spain.

Operations are lean at approximately 12–15 staff, organised around the CIO, a Director General, two Co-Heads of Research, and analyst, middle-office, and controller functions. No external funding has been disclosed; the firm is bootstrapped off management and performance fees, with capacity and distribution — rather than capital — as the binding constraint on near-term growth.

Name

Hamco Capital Ltd.

Legal name

HAMCO AM SGIIC, S.A.

Website

https://www.hamco.es/

Company type

Private

Founded year

2018

Operating status

Operating

Short description

HAMCO AM SGIIC is an independent Madrid-based asset manager running Hamco Global Value Fund and Hamco Quality Fund, applying deep-value and quality-value strategies to global equities with around €260M in AUM. It distributes exclusively through Allfunds, Inversis, and 40+ Spanish banks to retail, professional, and institutional investors.

Ownership category

akta.pro rank

Product category

Asset Management — Global Equity Value Funds

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)

akta.pro secondary industry

Private Client/High-Net-Worth Advisory (FSAEAAAN)

Keywords

• Deep value investing
• Global equity funds
• Asset management
• Value investment strategies
• Fund management

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Annual management fees charged on assets under management across three share classes of Hamco Global Value Fund and Hamco Quality Fund. Fee rates vary by share class: Class R charges 0.90% for Global Value and 0.80% for Quality Fund; Class I charges 0.65% for Global Value and 0.80% for Quality Fund; Class F charges 1.70% for Global Value and 1.60% for Quality Fund. Fees are calculated daily and reflected in the daily net asset value.
2. Performance Fees (Comisión de Éxito): Success fees charged on investment returns above high-water marks for eligible share classes. Class R of Global Value Fund charges 9% performance fee; Class I charges 9%; Class F has no performance fee. Performance fee is only payable after accumulating positive returns over a rolling 5-year reference period. This aligns manager and investor interests.

Pricing tiers

Go-to-market motion2 records

Distribution channels17 records

Marketing channels7 records

Core offering

Hamco AM SGIIC is an independent Spanish asset manager that runs two actively managed global equity mutual funds (SICAVs) — Hamco Global Value Fund (a deep value strategy seeking undervalued companies worldwide) and Hamco Quality Fund (a quality value strategy focused on high-quality businesses at attractive prices). Each fund is offered through three share classes: Class R (retail, €100 minimum), Class I (professional investors, €250,000 minimum), and Class F (institutional/UHNW, €100,000 minimum, fixed-fee only). Funds are distributed exclusively through third-party platforms Allfunds and Inversis and through over 40 financial institutions across Spain and internationally.

Product overview

Hamco AM SGIIC operates as an independent Spanish fund manager specializing in global equity investment funds grounded in the value investing philosophy. The firm offers two principal funds: Hamco Global Value Fund (a deep value strategy seeking significantly undervalued companies with high appreciation potential) and Hamco Quality Fund (a quality value strategy focusing on high-quality businesses at reasonable prices with a more moderate risk profile). Both funds are distributed as Luxembourg SICAVs across multiple share classes (R for retail investors, F for institutional/retail, I for professional investors) via distribution platforms Allfunds and Inversis, and through multiple financial entities. The firm also provides educational blog content covering investment topics such as intangible asset valuation, safe-haven assets, rating agencies, and company evaluation.

Differentiator

Problem solved

Functional benefit

Products and services

• Hamco Global Value Fund A global equity mutual fund (Luxembourg SICAV) applying a deep value investment philosophy that targets undervalued companies of any sector, capitalisation and region worldwide with long-term appreciation potential. Minimum recommended investment horizon is 5 years, denominated in EUR without currency hedging, distributed as three share classes (R retail €100 min, F €100,000 min, I €250,000 min).
• Hamco Quality Fund A global equity mutual fund (Luxembourg SICAV) applying a quality value philosophy that invests in high-quality, solid, profitable companies at attractive prices with long-term appreciation potential, offering a lower-risk profile with reduced portfolio turnover versus the deep value strategy. Distributed via three share classes (R €100 min, F €100,000 min, I €100,000-€250,000 min depending on client type).

Quantifiable outcome

• Hamco Global Value Fund: 170.54% total return / 16.54% annualized (Class R) since inception October 2019 through June 2026
• +5 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature1 record

Partnerships

Ten partnerships are on record, tiered core and minor.

• AllfundscoreChannel Partner/ Reseller/ DistributorAllfunds is one of the two primary fund distribution platforms for HAMCO AM's investment funds. Through Allfunds, Hamco funds are accessible to hundreds of financial advisers, banks, and wealth management firms across Europe and Latin America. The platform enables Hamco to reach a broad distribution network without building direct sales infrastructure.
• InversiscoreChannel Partner/ Reseller/ DistributorInversis is the second primary fund distribution platform for Hamco funds, complementing Allfunds. The platform provides access to independent financial advisers and banking partners, enabling broad market coverage across the Spanish financial services market and beyond.
• Andbank LuxembourgcoreChannel Partner/ Reseller/ DistributorAndbank Luxembourg S.A. distributes Hamco funds (specifically Hamco Global Value Fund) through its Luxembourg-domiciled fund range accessible at https://www.andbank.com/luxembourg/es/gestion-dactifs/nuestros-fondos/. This partnership enables the fund to be distributed internationally under Luxembourg fund structures with CNMV oversight.
• BankinterminorChannel Partner/ Reseller/ DistributorBankinter distributes Hamco funds to its private banking and retail clients in Spain. Hamco funds are available for subscription through Bankinter's investment platform.
• MyInvestorminorChannel Partner/ Reseller/ DistributorMyInvestor (part of the ANDBANK group) distributes Hamco funds to its digital banking customers, providing access for self-directed retail investors.
• Santander Private BankingminorChannel Partner/ Reseller/ DistributorSantander's private banking division distributes Hamco funds to high-net-worth clients in Spain, accessible through its private banking network.
• Deutsche Bank SpainminorChannel Partner/ Reseller/ DistributorDeutsche Bank's Spanish operations distribute Hamco funds through its wealth management and private banking services to affluent and high-net-worth clients.
• Renta 4 BancominorChannel Partner/ Reseller/ DistributorSpanish boutique investment services firm with a network of independent financial advisers that distribute Hamco funds to their respective client bases.
• CNMV (Comisión Nacional del Mercado de Valores)coreOthersCNMV is Spain's financial markets regulator. HAMCO AM SGIIC is registered as a Sociedad Gestora de Instituciones de Inversión Colectiva (SGIIC) with CNMV registration number 293. The CNMV oversees the firm's fund operations, prospectus filings, and investor protection compliance. Fund documentation is available through the CNMV register.
• Ático34 (Data Protection Delegate)minorOthersGrupo Ático34 SL serves as HAMCO AM's External Data Protection Officer (Delegado de Protección de Datos / DPO), as required under GDPR. Contact: [email protected].

Scale indicators10 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Cobas Asset Management: Spanish boutique value investing firm founded by Francisco García Paramés (former Bestinver CIO). Most direct comparable as a Madrid-based independent asset manager applying deep value philosophy to global equities, distributed through Spanish private banking networks.
• azValor Asset Management: Spanish independent value investing boutique applying deep value philosophy to global equities. Highly comparable as a Madrid-based boutique with similar distribution model through Spanish banks and advisers.
• Magallanes Value Investors: Spanish value investing boutique with similar deep value approach to European and global equities. Comparable in size, philosophy, and Spanish retail/private banking distribution model.
• Bestinver Asset Management: Established Spanish asset manager applying deep value philosophy to global equities, with similar Luxembourg fund structures and Spanish banking distribution. Comparable as a larger-scale Spanish value manager.
• Metagestión: Spanish value investing firm with European/global equity mandates. Comparable as a boutique Spanish asset manager applying value philosophy with similar distribution through private banking channels.
• Trea Asset Management: Spanish independent asset manager offering value-oriented equity funds. Comparable as a boutique Spanish manager with similar investor base and Spanish banking distribution channels.

Broad incumbents

• Edmond de Rothschild Asset Management: Swiss-headquartered global asset manager with value and conviction-driven strategies. Comparable as both a distributor of Hamco funds (via Edmond de Rothschild Spain) and a broader European value manager offering competing global equity products.

Regional players

• Renta 4 Gestión: Spanish asset management arm of Renta 4 Banco, offering value and quantitative equity strategies. Comparable as a Spanish fund manager, though with broader product range and proprietary bank distribution.
• Andbank Asset Management: Andorran private banking group with asset management operations across Spain and Luxembourg. Distributes Hamco funds through its private banking network while offering competing internal fund products.

Others

• Horizon Asset Management (predecessor entity): Predecessor hedge fund firm (Horizon Growth Fund, 1999-2019) managed by John Tidd, the current Hamco CIO. Direct historical predecessor establishing the value investing approach now applied by HAMCO AM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/hamco_am
• YouTubeyoutube.com/@hamco_am
• LinkedInlinkedin.com/company/hamco-am

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hamco Capital Ltd.