Spanish SICAVs

What is it?

The fund seeks to preserve capital by investing approximately 80% of its assets in fixed-income securities and the remainder in listed companies in developed countries. In fixed-income investments, we aim for a stable portfolio of public and/or private issuers (including deposits and money market instruments, listed or unlisted and liquid), with a maximum duration of 2 years. In equity, we choose companies with high market capitalisation, low volatility, lower beta than the market, low leverage, generating cash flow, from developed countries and in more defensive sectors. Currency risk is largely hedged to avoid adding another source of risk or volatility to the portfolio. The decision of how much to invest in the equity market depends on the managers' macro assessment at the time.

Currency exposure will be largely hedged to avoid adding volatility to the fund, although this is at the discretion of the managers.

Why invest?

It pays testament to the experience and historic involvement of the March Group in asset management and a clear example of co-investment.

Its investment goal is preserving assets and value creation within a risk-controlled environment.

A dynamic approach is taken in the allocation of assets, adjusting the exposure to equities based on the market environment. It combines a top-down and a bottom-up approach. The top-down approach is based on macroeconomic analysis of the various variables and trends at the global level. This allows managers to determine the level of equity exposure of the strategy and the trends or sectors they will invest in. The top-down approach is applied to both fixed income and equity investments. This involves selecting the companies with the best fundamentals and valuation within each sector or trend we wish to implement.

Return/Risk

Key figures

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