Investment policy
The objective of the Sub-Fund PARETURN GVC GAESCO PATRIMONIAL FUND is to generate a stable return investing in the equity markets avoiding the big equity markets drawdowns. The benchmark of the Sub-Fund is weekly EURIBOR plus 2% on a yearly basis. There will be no copyright fee paid by the Delegate Manager. The Sub-Fund can invest in the equity markets from 0% to 100% of the assets. Equity markets are taken into account separately in 8 different sub-markets: a) Four of them have a geographic nature: geographically it can invest in European Equity indexes, US Equity indexes, Japanese Equity indexes, and Emerging Market Equity indexes; b)Four of them have a style nature: from a style prospective it can invest in Small Caps indexes, in Big Cap indexes, in Value indexes and in Growth indexes. The investment decision is taken market by market, each one of them having a maximum investable stake close to 12.5%. Investment on each market depends on the relationship between the return and the volatility of each market, based on a proprietary strategy that tends to have a positive correlation with the equity index returns and a negative one with the equity index volatility. The global exposure of the Sub-Fund to the equity market comes as a result of the decisions taken in each of the eight different equity sub-markets. It might be no less than zero and no more than 100% of the assets of the Sub-Fund. No leverage is used. The investment in the equity markets is implemented using only equity index futures and equity index ETFs, both in organized markets. OTCs products are not going to be used. Equity Index ETFs might not be more than 10% of the assets. No shorts futures or short ETFs are used. The strategy is using only long positions. The stake not invested in equities will be invested in monetary market and fixed income mainly nominated in euros. These investments may have both, a private or a public issuer with an Investment Grade rating by Standard & Poor's (or equivalent) and portfolio duration lower than 2 years.
Class R
Absolute Return
Risk Profile
Managing Company
GVC Gaesco Gestión, SGIIC, SA/ Waystone Management Company (Lux) S.A.
BNP Paribas Securities Services, Sucursal Luxemburgo
Launch Date
Benchmark Index
Benchmark Euribor week + 200pb
Management Fee
Min. Investment
300.000 €
Other available types

*Total return for calendar year (from January 1st to December 31st).

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