Investment policy

The exposure to equities (EQ), both directly and indirectly, will range from a minimum of 30% to a maximum of 75% in domestic or international equity securities issued by companies from any country, mainly from OECD countries, predominantly high capitalization (Blue Chips) as well as medium or low capitalization (the latter can negatively impact fund liquidity). The exposure to fixed income (FI), both directly and indirectly, will be a maximum of 50% in FI securities issued by private entities, mainly high capitalization (Blue Chips) or public entities from OECD countries, with a medium credit rating (between BBB- and BBB+), as well as the same rating as the Kingdom of Spain at any given time. The average duration of the fixed income will be less than 2 years. A minimum of 50% will be invested in suitable financial collective investment schemes (CIS), harmonized or not (maximum of 30% for the latter), from the same or different group as the management company, in line with the investment objective of the Fund. Up to a maximum of 20% can be invested in demand deposits and non-traded money market instruments, which must meet the same credit rating as the fixed income. The exposure to emerging markets will be up to a maximum of 15%, and the currency risk can exceed 30%. Investment in high capitalization securities or issuances of these same securities will be predominant in the Fund. The maximum exposure to market risk through derivatives is the amount of net assets. The management takes as reference the return of the MSCI AC WORLD TOTAL RETURN INDEX for equity investments (75%) and the Euribor (Euro Interbank Offered Rate) for fixed income investments (25%).

Class A