In compliance with Law 34/2002, of July 11, on Information Society and Electronic Commerce Services (hereinafter "LSSICE"), we inform you that Cygnus Asset Management SGIIC SA, registered in the Mercantile Registry, Volume: 23.363, Folio: 15, Sheet: M-419.040, Inscription 1st, with CIF A 84780055 and domicile in Suero de Quiñones, 34-36, 28002, Madrid, is the owner of the page

By accessing (the "Site") and the information and materials that it contains or describes, you acknowledge that you have understood and accept the following conditions of use. Please read these conditions of use carefully before you proceed.

The distribution of information contained on the Site may be restricted in certain jurisdictions. This information does not constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is not authorised. It is your responsibility to inform yourself of and to observe all applicable laws and regulations of the countries of your nationality, residence or domicile. By proceeding to the Site you confirm that you are aware of the laws in your own jurisdiction relating to the provision and sale of funds and related financial services products and you warrant that you will not distribute or utilise this information in a manner that could constitute a breach of such laws.

Information on the Site is published solely for informational purposes and has no regard to the specific investment objectives, financial situation or particular needs of any person. Information contained herein is believed to be reliable but no warranty is given as to its accuracy or completeness and views and opinions, whilst given in good faith, are subject to change without notice.

Cygnus Asset Management SGIIC SA

Cygnus Asset Management SGIIC SA ("Cygnus") is registered with the Comisión Nacional del Mercado de Valores ("CNMV") as Alternative Investment Fund Manager ("AIFM") and is also registered as an investment adviser within the U.S. Securities and Exchange Commission ("SEC"). Registration as an investment adviser does not constitute an endorsement of the firm by the SEC nor does it indicate that the adviser has attained a particular level of skill or ability.

Distribution Restrictions

European Economic Area

In the European Economic Area, the information on the Site is not to be issued or distributed to, nor directed at, persons other than "Qualified Investors" within the meaning of Article 3(2)(a) of Directive 2003/71/EC (the "Prospectus Directive"). The information contained on the Site must not be accessed by, acted on, or relied on by persons in the European Economic Area who are not Qualified Investors. Within the European Economic Area, any investment or investment activity to which the information on the Site relates is only available to Qualified Investors.

United States of America

Shares of investment vehicles managed by Cygnus (the "Funds") have not been and will not be registered under the US Securities Act of 1933, as amended, and the Funds have not been and will not be registered under the US Investment Company Act of 1940, as amended. Accordingly shares of the Funds may not be offered or sold, directly or indirectly, in the US or to any U.S. Person except pursuant to an exemption from, or in a transaction not subject to the requirements of the US Securities Act of 1933, as amended, and the US Investment Company Act of 1940, as amended. The Shares have not been approved by the United States Securities and Exchange Commission, any state securities commission or other U.S. regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits or the accuracy or adequacy of this Site. Any representation to the contrary is unlawful.

Notwithstanding the foregoing prohibition on offers and sales in the United States to or for the benefit of U.S. Persons, the Funds may make a private placement of its shares to a limited number and/or certain categories of U.S. Persons.


The Site contains information on foreign collective investment schemes which have not been approved by the Swiss Financial Market Supervisory Authority ("FINMA") for distribution in or from Switzerland to non-qualified investors in accordance with Article 120 of the Federal Act on Collective Investment Schemes of 23 June 2006 ("CISA"). The information contained in the following pages is only directed to "qualified investors" within the meaning of Article 10 of CISA with domicile/residence in Switzerland.

Hong Kong

In Hong Kong the Site is directed only at persons who qualify as “professional investors” as defined in the Securities and Futures Ordinance (the “SFO”) and the Securities and Futures (Professional Investor) Rules. The information contained in the Site does not constitute an “offer to the public” within the meaning of the Companies Ordinance, and is not an advertisement, invitation or document relating to any securities or collective investment schemes or any other investment under the SFO. None of the Funds and/or products described in the Site have been authorised by any regulatory authority in Hong Kong. Any investment or investment activity to which the Site relates is available only to, and will be engaged in only with, professional investors.


In Japan the Site is directed only at "Qualified Institutional Investors" as defined under Article 2, Paragraph 3, Item 1 of the Financial Instruments and Exchange Act of Japan (Act No. 25 of 1948, as amended) ("FIEA"). The information contained in the Site does not constitute a “Public Offering” within the meaning under Article 4, Paragraph 1 of the FIEA. Any investment or investment activity to which the Site relates is available only to, and will be engaged in only with, Qualified Institutional Investors.


Investor´s Choice awards were judged by an eminent panel of institutional investors in hedge funds and they took into account a set of qualitative criteria covering the investment process, risk management framework and depth of research team, as well as a set of quantitative performance measures including annualized returns, volatility and maximum drawdown.


Hedgeweek awards are based on a 'peer review system' whereby Hedgeweek readers - including institutional and high net worth investors as well as managers and other industry professionals at fund administrators, prime brokers, custodians and advisers - are invited to elect a 'best in class' in a series of categories via an online survey. In each category, the firms with the most votes at the end of the voting period are subject to a final review by Hedgeweek's Senior Editorial team.


Preqin´s Top Performing Hedge Fund and Most Consistent Top Performing Hedge Fund lists were determined by Preqin´s analysis of the Preqin´s Hedge Fund Analyst database, which contains monthly performance data for over 12,800 track records, enabling the review of top performing fund managers across different strategies and regions. For the Most Consistent Top Performing Hedge Fund, awarded funds were determined using a percentile rank comparing various metrics: annualised volatility, Sharpe Ratio and Sortino Ratio, and were representatively graded using a sample population of the database containing 149 Funds, over two sample periods. (2016 Preqin Global Hedge Fund Report)

The Extel Survey reflects the contribution of over 20,000 participants from 80 countries. All data, votes received and methodology applied were independently checked and verified. Cygnus did not compensate any party to secure a nomination or to accept the awards given. More information on the Extel Survey can be found here:

Hedge Funds Review European Single Manager award winners are chosen based on the findings of an expert judging panel which reviews the risk and return characteristics of top funds and agrees on a shortlist and winner in each category. The judging panel, chaired by Hedge Funds Review awards editor Margie Lindsay, is impartial and unbiased. The awards reward genuine performance and quality. Hedge Funds Review utilizes the Eurekahedge database as their data provider, in addition to funds submitting themselves for performance awards. Funds reporting to the data provider are put forward if they meet the criteria and have positive performance for the periods under review.


General Provisions

1. The general conditions contained in the present legal notice regulate the access and use of the Site which Cygnus makes available to internet users free of charge. Access to it implies acceptance without reservation. The use of certain services offered on the Site will be governed, in addition, by the particular conditions provided in each case, which will be understood and accepted by the mere use of such services.

2. The display, printing and partial downloading of the content of the Site is authorised only and exclusively if the following conditions are complied with:

  • That it is compatible with the purposes of the Site.
  • That it is done with the exclusive aim of obtaining the information contained for personal and private use. It is expressly forbidden to use it for commercial purposes or for its distribution, public communication, transformation or decomposition.
  • That none of the contents of the Site are modified in any way.
  • That no graphic, icon or image available on the Site be used, copied or distributed separately from the rest of the images that accompany it.

3. Cygnus reserves the right to make changes and updates to the information contained in the Site, the configuration and presentation of the Site and the conditions of access, at any time and without prior notice.

4. Cygnus does not guarantee the nonexistence of interruptions or errors in accessing the Site or its contents, or that it is updated. Cygnus will aim to resolve any issues, as long as there are no causes that make it impossible or difficult to execute, as soon as it becomes aware of errors, disconnections or lack of updating in the contents.

5. Access to the Site as well as the improper use that may be made of the information contained in it is the sole responsibility of the user. Cygnus shall not be liable for any consequence, damage or prejudice that may arise from such access or use. It is not responsible for any security errors that may occur or for damages that may be caused to the user's computer system (hardware and software) or to the files or documents stored therein, as a result of the presence of a virus in the user's computer that is used for the connection to the services and contents of the Site, a malfunction of the browser or the use of non-updated versions of the same.

6. Cygnus does not assume any responsibility derived from external contents linked to within the Site, nor does it guarantee the absence of viruses or other elements in them that may cause alterations in the computer system (hardware and software), in documents or files of the user, including any liability for damages of any kind caused to the user for this reason. In the event that any user, client or third party, considers that the content or services provided by the linked pages are illegal or damage property or rights of the user, a client or a third party subject to compensation, and, in particular, they consist of:

  • Activities or contents that may be considered criminal in accordance with Spanish criminal law.
  • Activities or contents that violate intellectual or industrial property rights.
  • Activities or content that endanger public order, criminal investigation, public security and national defence.
  • Activities or contents that endanger the protection of public health, respect for the dignity of the person and the principle of non-discrimination, and the protection of health and children.

You may report this to Cygnus for the purposes of the provisions of the LSSICE.

7. The unauthorized use of the information contained in the Site, its resale, as well as the infringement of the intellectual property rights of Cygnus will give rise to legally established responsibilities.

8. Any third party link to the Site should be linked to its main page, being prohibited "deep links", "framing" and any other use of the contents of the Site, in favor of unauthorised third parties.

9. "Cookies" policy. Cygnus may use own and third party cookies when a user browses the web. "Cookies" are files that are downloaded to your computer when you access certain web pages. Cookies allow a website, among other things, to store and retrieve information about the browsing habits of a user or his or her computer and, depending on the information they contain and how they use their equipment, can be used to recognise the user. In this sense, the Site uses its own cookies on the acceptance of the cookies policy and to maintain the user's session, as well as the Google Analytics cookie that recognises the number of visits, pages or sections visited, time navigation, sites visited before entering this page, details about the browsers used and information related to the navigation itself. You can read more on Analytics' "cookies" at:

Cygnus is not responsible for the content and veracity of the policies of third parties. The user has the possibility to configure his browser to be warned on the screen of the reception of cookies and prevent its installation on his or her hard disk. Please refer to the instructions and manuals of your browser for further information:

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In order to use the Site it is not necessary for the user to allow the installation of cookies sent by Cygnus or third parties acting on its behalf, without prejudice to the need for the user to log in as such in each of the services whose provision requires the previous registration or login. If the user has activated in his browser the possibility of installation of cookies, it will be considered for all purposes that he or her has given his express consent to the storage of cookies in relation to the access and use of the Site.

10. Cygnus and the user, expressly waiving any other jurisdiction, submit themselves to the jurisdiction of the courts and tribunals of the address of Cygnus, for any controversy that could arise from access, or use of the website.



Cygnus is an independent asset management firm founded in 2006. Our approach to investing is fundamental, active, with a special emphasis on risk control. These funds provide exposure to sectors such as utilities, infrastructures and renewables, as well as themes like event driven and corporate events.



A team of professionals with diverse training and broad experience in different financial and investment areas. The team works in an environment of high motivation, where integrity, commitment, merit and team work are given priority.

Ave Cygnus