Investment policy

The management objective is to invest in companies that provide a high, growing, and sustainable dividend yield, as well as potential capital appreciation driven by fundamental discount, primarily within the Eurozone. This is achieved through well-defined selection criteria without discriminating based on issuer size or dividend payment method, although cash dividends are preferred over stock dividends.
Exposure to equities will range from a minimum of 75% to 100%, with a majority of exposure to Eurozone issuers (around 75%), followed by US (around 15%), UK (around 5%), and Swiss (around 5%) issuers. There are no limitations based on market capitalization or economic sectors.
Exposure to fixed income, whether public or private, in OECD markets, will range from 0% to a maximum of 25%. These assets will hold a medium credit quality rating (between BBB- and BBB+). Investments can also be made in assets with the same credit quality as the Kingdom of Spain at any given time. The average duration of these assets will be less than 2 years.
Within the fixed income category, deposits in credit institutions and non-listed money market instruments that are liquid and meet the aforementioned credit ratings are included.
The maximum exposure to currency risk will be 30%. Investments will not be made in emerging countries. The fund will not invest in collective investment schemes (IICs). Investments will not be made in derivative financial instruments, whether traded or non-traded on organized markets.
More than 35% of the fund's assets can be invested in securities issued or guaranteed by a European Union country, Autonomous Community, Local Entity, International Organizations of which Spain is a member, and states with solvency not lower than that of Spain.
The fund diversifies investments across at least six different issuances in the mentioned assets. Investment in securities of a single issuance does not exceed 30% of the fund's assets.

Class A