Fernando Bernard Fernando Bernard

Following full-time internships at Price Waterhouse (Madrid, 1994), BBVA (Madrid, 1996), and DG Bank (Frankfurt, 1997), he started his professional career in 1998 in Frankfurt at an asset management company, Value Management&Research, where he worked closely with the founder, a former associate to legendary investors Peter Lynch and the Browne brothers of Tweedy Browne. It was then that he began to gain in-depth knowledge of the theories of value investing. He then worked in the Spanish private equity sector as an Associate at BNP Paribas Leveraged Finance. Subsequently he joined the analysis team at Banesto following the oil and steel sectors, and later formed and led the analysis team at a small Spanish independent brokerage house, whose strategy was focused on investment ideas based on the theory of value. In 2005 he joined the Vetusta Group as investment director, leading a three-person team specialising in the value-style management of portfolios and funds. In his two years in charge at Vetusta he achieved average annual returns of around 30% on equities, always beating the benchmark indices. He joined Bestinver in February 2007 along with Francisco and Álvaro, whom he considered the leading lights in the value school in Spain.
He has a Bachelor in Business Administration (summa cum laude, awarded jointly by ICADE, Madrid and Northeastern University, Boston), has 3 years education in Spanish Law and is a CFA charter holder. He is fluent in English and reads German and French.