Fixed Income Strategy. It is for investors with moderate profiles who seek to protect their capital for 12- to 18-month periods.
Our Bonds Strategy consists of investing all capital in equities. The goal is to control risk and manage the investment seeking yields higher than those seen historically in equity products.
These products are not identical due to the difference in the amounts managed, when they were created and the type of asset in which they may invest according to the prospectuses.
Our priority is to protect capital for 12- to 18-month periods.
We select corporate bonds for which we believe there is a high probability of recovering the principal and interest.
Our portfolio is highly diversified, composed of between 50 and 60 issuers.
We increase the portfolio's diversification as the risk profile of the assets comprising it increase.
We seek bond issues with returns that are far higher than risk-free assets (1-year treasury bills).
We actively manage credit and interest rate risk. We take positions of relative value over credit spreads and interest rate curves.
The minimum investment in investment-grade bonds is 60% and 80% in OECD issuers.
The main currency is the euro, however we can invest up to 20% in other currencies, either hedging the foreign currency risk or not.