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Pension Funds

Learn about the Pension Funds assigned to our GVC Gaesco Pension Schemes.

Pension Funds

Learn about the Pension Funds assigned to our GVC Gaesco Pension Schemes.

GVC GAESCO PENSION FUNDS

Investment Policy in detail, profitability objectives, investor profile and the pension scheme assigned to each of the Pension Funds managed by GVC Gaesco Gestión.

Pension Bond-Mixed Fund

 

 Management Style / Category

Pension Bond-Mixed Fund, indicating a predominantly conservative investment policy.

 Investment Policy
  • The fund may invest in both domestic and international equities, up to a maximum of 30% of its assets; the remaining portion will be primarily invested in fixed income, encompassing both government and private securities, as well as the Money Market.
  • There are no maximum limits concerning asset distribution across economic sectors.
  • Investments will be made in securities that offer the best risk-reward profile over a medium to long-term horizon.
 Return Objective
  • The primary goal of the fund is to achieve long-term returns that exceed the performance of the Money Market by a spread of 100 basis points.
 Investor Profile
  • GVC Gaesco Senior, FP is suitable for investors with a conservative risk profile who wish to avoid the fluctuations in returns arising from the overall market volatility and specifically from equities. However, given the nature of its investments, the fund can generate short-term negative returns, although over the long term, it should provide returns superior to those of the Money Market.

THE FOLLOWING PENSION PLAN IS AFFILIATD WITH THIS FUND: Plan Familiar P.P.
 
PENSION FACTSHEET

Pension Equity-Mixed Fund


 Management Style / Category
  • Pension Equity-Mixed Fund.
  • The fund's management style is highly dynamic, constantly aiming to capitalize on short-term market opportunities without significantly increasing the risk profile.
 Investment Policy
  • The fund may invest in both domestic and international equities, up to a maximum of 80% of its assets; the remaining portion will be primarily invested in fixed income, encompassing both government and private securities, as well as the Money Market.
  • There are no maximum limits concerning asset distribution across economic sectors.
  • Investments will be made in securities that offer the best risk-reward profile over a medium to long-term horizon.

  • The fund may use equity derivatives both for hedging spot positions and as a supplementary investment strategy.

 Return Objective
  • The primary goal of the fund is to achieve long-term returns that exceed the performance of the index composed of 80% Euro Stoxx 50 and 20% Money Market.
 Investor Profile
  • GVC Gaesco Junior, FP is designed for investors who prioritize optimizing returns in the medium and long term and are willing to tolerate fluctuations in returns resulting from overall market volatility and specifically from equities.

THE FOLLOWING PENSION PLAN IS AFFILIATD WITH THIS FUND:  Plan Capitalización P.P.

  Pension Factsheet

Pension Absolute Return Fund


 Management Style / Category

Pension Absolute Return Fund, a single-strategy direct fund.

 Investment Policy
  • The fund's objective is to protect and optimize assets over the medium term. To achieve this, it applies proprietary management techniques developed entirely by GVC Gaesco. These techniques were systematized and optimized during an 18-year backtesting period (from December 1988 to December 2006).
  • The fund capitalizes on market trends in equities, investing more as markets become healthier and divesting as markets deteriorate—specifically, when the attractiveness of the risk-return ratio diminishes.
  • The investment process is clear and disciplined, leveraging years of market experience to differentiate between typical market noise and structural movements, thereby avoiding the subjective influence of emotions.
  • Investments are allocated between risk-free assets (fixed income and the money market) and risky assets (futures on equity indices) based on market context and economic prospects. The range of equity investment is extensive (0%-100%), providing flexibility to adapt to market fluctuations. The strategy solely employs long positions. Uninvested portions in equities are allocated to the money market and fixed income, primarily in euros.
     
    • Equities: Divided into eight separate sub-markets—four geographical and four style-related. Investment decisions are made based on each market's characteristics, each with a maximum investable portion close to 12.5%. Investments in each market depend on the relationship between return and volatility, employing a proprietary strategy with a positive correlation to equity index returns and a negative correlation to equity index volatility. No leverage is used.
    • Currencies: Assumes that investors' base currency is the euro, optimizing the risk-return relationship in euros.
    • Mercado Monetario y Renta Fija: Money Market and Fixed Income: Uninvested portions in equities are allocated to the money market and fixed income, primarily in euros. These investments may have both public and private issuers, with an investment-grade rating by Standard & Poor's and a portfolio duration of under 2 years.
 Return Objective
  • The fund's management takes the one-week Euribor index compounded annually plus 200 basis points as a reference.
 Investor Profile
  • Patrimonialista, FP is intended for investors with a conservative to moderate risk profile seeking returns independent of financial market developments. They are willing to tolerate fluctuations in their assets due to market volatility. However, since the fund's goals include asset protection, stable returns, and optimized investment, the annualized volatility will not typically exceed 6% under normal market conditions.

THE FOLLOWING PENSION PLAN IS AFFILIATD WITH THIS FUND: Patrimonialista P.P.

  PENSION FACTSHEET

OTHER PENSION FUNDS

Detailed Investment policy of the Pension Funds

Equity Pension Fund

 

 Management Style / Category

It is a Pension Fund classified in the equity category.

 Investment Policy
  • The Fund invests the majority of its assets in national and international equities, and the rest will be invested preferably in money markets.
  • There are no maximum limits regarding the distribution of assets by economic sectors.
  • Investment will be made in those securities that, according to the fund manager's judgment, offer the best risk-return profile over a medium to long-term horizon.
 Return Objective
  • The Fund's long-term return objective is to outperform the Euro Stoxx 50 Index.
 Investor Profile
  • Guissona Equity FP is targeted at investors with a high risk profile who are focused on long-term investments and aim to optimize returns. The Fund is exposed to a high level of volatility due to its equity orientation and may generate negative returns in certain periods.

THE FOLLOWING PENSION PLAN IS ASSOCIATED WITH THIS FUND: Guissona Equity Pension Plan (P.P.)
 
PENSION FACTSHEET

Mixed Fixed Income Pension Fund

 

 Management Style / Category

It is a Mixed Fixed Income Pension Fund.

 Investment Policy
  • The Fund will invest in fixed income and equity securities, both nationally and internationally, issued by public or private entities from countries belonging to the OECD and listed on organized markets.
  • Exposure to equity securities will be limited to a maximum of 15%, and they will be from Eurozone issuers. There are no maximum limits regarding the distribution of assets by type of issuer (public or private), credit rating, duration, market capitalization, or economic sector.
  • The average portfolio duration of fixed income securities will be less than 5 years.
  • There is no currency risk, as all investments will be in the euro currency.
 Return Objective
  • The Fund's long-term return objective is to outperform the returns of the weekly Money Market.
 Investor Profile
  • It is suitable for very conservative investor profiles who do not seek significant fluctuations and volatilities in periodic results, and therefore have low risk tolerance.

THE FOLLOWING PENSION PLAN IS ASSOCIATED WITH THIS FUND: Agropecuaria de Guissona, P.P.

  PENSION FACTSHEET

Equity Pension Fund

 

 Management Style / Category

It is a Pension Fund classified within the equity category.

 Investment Policy
  • The Fund's purpose is to invest in international equities up to 100% of its assets. The investment objective is to achieve high long-term returns by prioritizing investments in mostly index funds or low-cost ETFs, with the aim of covering various global geographic areas.
 Return Objective
  • The fund's objective is to achieve maximum long-term returns linked to the indices in which it invests.
 Investor Profile
  • This fund is aimed at investors with a determined profile who accept high fluctuations in annual returns that market volatility in general and equity markets in particular can cause, in order to achieve high long-term annualized returns.

THE FOLLOWING PENSION PLAN IS ASSOCIATED WITH THIS FUND: INBESTME Renta Variable, P.P. 

  PENSION FACTSHEET

Global Pension Fund

 

 Management Style / Category

It is a Pension Fund classified within the global category.

 Investment Policy
  • The Pension Fund primarily invests its assets through traditional national and foreign Investment Funds (IICs), with a percentage exceeding 50%, in fixed income, equities, currencies, and money market assets, as well as in alternative management IICs. It may also directly take positions in monetary assets.
 Return Objective
  • The Fund has a non-guaranteed return objective of approximately 9.0% annually and a non-guaranteed limitation (with a 95% probability) to not incur negative fluctuations exceeding 10% in a year or 20% cumulatively, with monthly observations.
  • The annualized volatility will range between 9% and 14%, with a target average annualized volatility of 11.2%, based on 60 monthly data observations.
 Investor Profile
  • This fund is aimed at investors with a determined profile who accept high fluctuations in annual returns that market volatility in general and equity markets in particular can cause, in order to achieve high long-term annualized returns.

THE FOLLOWING PENSION PLAN IS ASSOCIATED WITH THIS FUND: 3 PiR Director, P.P.

  PENSION FACTSHEET

Global Pension Fund

 

 Management Style / Category

It is a pension fund classified within the Global Equity category.

 Investment Policy
  • The Fund can invest between 0% and 100% of the total exposure, both in equity assets and fixed income assets, including sight deposits and money market instruments, from public or private issuers from countries belonging to the OECD.
  • Currency risk exposure can reach 100% of the assets.
  • The fund may invest in assets from emerging markets.
 Return Objective
  • The Fund aims for long-term returns to outperform the performance of the index composed of 50% MSCI World Index + 50% Eonia.
 Investor Profile
  • he fund is intended for all investors with a conservative/moderate risk profile.

THE FOLLOWING PENSION PLAN IS ASSOCIATED WITH THIS FUND: BSG PROMETEO, P.P.

  PENSION FACTSHEET

Fixed Income Pension Fund

 

 Management Style / Category

It is a pension fund classified within the Fixed Income category.

 Investment Policy
  • The Fund's vocation is to invest in fixed income. The Fund's investment objective is to achieve long-term returns by investing in Collective Investment Institutions (CIIs) focused on fixed income that follow certain short, medium, and long-term fixed income reference indices with a global exposure. The Fund may invest in CIIs subject to UCITS legislation or from an OECD country, including low-cost ETFs. It will exclusively invest in fixed income CIIs. Where possible, fixed income CIIs with an ESG/ISR bias will also be integrated. No limits are set for duration, exposure to non-euro currency, or rating. It has a flexible nature.
 Return Objective
  • The fund aims for long-term returns to outperform the performance of the Money Market plus a spread of 100 basis points.
 Investor Profile
  • This fund is intended for investors with a conservative profile, who prioritize medium to long-term savings, as well as investors who want to use it as a complement, alternative, or safe haven asset to other more aggressive positions in pensions.

THE FOLLOWING PENSION PLAN IS ASSOCIATED WITH THIS FUND: INBESTME Renta Fija, P.P.

  PENSION FACTSHEET

Global Pension Fund

 

 Management Style / Category

It is a Pension Fund classified within the global category.

 Investment Policy
  • The Fund can invest between 0% and 100% of its assets in Collective Investment Institutions (CIIs). The Fund invests, either directly or indirectly through CIIs, in assets of equity, fixed income, or other assets permitted by current regulations, without any predetermined allocation percentages for each asset class, issuer type (public or private), rating, duration, market capitalization, currency, economic sector, or countries.
 Return Objective
  • The Fund does not have any benchmark index in its management.
 Investor Profile
  • It is intended for investors with a decisive profile, who accept high fluctuations in annual returns that market volatility in general and equity markets in particular can cause, in order to achieve high annualized returns in the long term.

THE FOLLOWING PENSION PLAN IS ASSOCIATED WITH THIS FUND: Collins Patrimonio Global, P.P.

  PENSION FACTSHEET

Equity Pension Fund

 

 Management Style / Category

It is a Pension Fund classified within the international equity category.

 Investment Policy
  • The investment objective is to achieve high long-term returns by primarily investing in Collective Investment Institutions (CIIs), mostly low-cost ETFs, with the aim of covering various global geographical areas. This fund's strategy favors the selection of investment vehicles with high scores in the ESG sphere (Environmental, Social, Governance), as well as the selection of companies classified with a positive impact and the exclusion of controversial sectors. The Fund will mostly invest in equity securities, in euros or currencies other than the euro, primarily using ETFs. It may invest in derivatives on an occasional basis or for hedging purposes.
 Return Objective
  • The fund aims to achieve maximum long-term returns linked to the indices in which it invests.
 Investor Profile
  • This fund is aimed at investors with a decisive profile, who accept high fluctuations in annual returns that market volatility in general and equity markets in particular can cause, in order to achieve high annualized returns in the long term.

THE FOLLOWING PENSION PLAN IS ASSOCIATED WITH THIS FUND: INBESTME ISR Renta Variable, P.P.

  PENSION FACTSHEET

 

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Legal notice: A complete report of each Pension Plan is available on the website with information concerning, among others, historical returns obtained prior to a substantial change in the investment policy of the IIC, series of annualized historical returns, detail of the risks associated with the investment in IIC, etc. Pension Plans involve certain risks (market, credit, liquidity, currency, interest rate, etc.), detailed all of them in the Prospectus and in the Key Investor Information (KII) document. The nature and scope of the risks will depend on the type and particular features of the fund, the currency, and the assets in which the equity is invested. Consequently, the choice among different types of funds should be made considering the return expectations and investment time horizon as well as the willingness and ability to take risks of the investor. The management company may, on behalf of the Pension Fund, conduct related transactions as set out in Articles 85 ter of the Pension Plans and Funds Regulation. For that purpose, the managing body has set out in its Internal regulations of Conduct, the adoption of procedures to avoid conflicts of interest and ensure that related transactions, if any, are carried out for the exclusive benefit of the Pension Funds managed and at prices or on terms equal to or better than those on the market.

The information contained on the website is for information purposes only and does not constitute an offer of products and services, nor a recommendation or offer to buy or sell securities or any other investment product, nor a contractual component. Nor does it imply legal, fiscal, or other advice and its content should not serve the user to make decisions or make investments. Pension Plans can be high-risk products, not suitable for all clients. Therefore, they do not intend to persuade the user to inappropriate operations by making services or access available to operations and markets that do not match to the user’s risk profile. Past performance is no guarantee of future results. Taxation of yields obtained by unitholders shall depend on the tax legislation applicable to their personal situation and may vary in the future.