GVC Gaesco Renda Valor, FI

Description

GVC Gaesco Renta Valor is intended for investors with a moderate-low risk profile, seeking to obtain regular returns. Ideal for savers investing in deposits and who, due to the new limitation imposed by the Bank of Spain in relation to the returns of deposits and the counterparty risks they entail, are looking for alternatives. They may also benefit from the tax efficiency of Investment Funds.

Investment policy

The Fund may invest in all types of financial assets that pay coupons, dividends or incomes, preferably higher rates.

  • Equity: At most, it will have an equity exposure of 15%. Defensive equities, with high and sustainable dividends over time.
  • High Yield, Government and Corporate Debt and Hybrid Debt: Up to 20%.
  • Diversified Deposit, without the limitations imposed on natural persons: Up to 40%.
  • Loans, Grants and others: Up to 25%.

There will be no rating restrictions; the fund is able to invest in any issue deemed interesting. The objective is to find value in assets which according to their fundamentals are undervalued.

There are two different kinds, with different ISIN codes: one for accumulation and another for distribution. Two net asset values.

  • Class A: Accumulation.
  • Class B: Distribution. Quarterly (March, June, September and December) the excess of the net asset value above 101 will be distributed. Initial Value 100.

The accumulation class, as its name suggests, does not distribute dividends, incomes or coupons. Profitability is collected in the Fund, reflected in the net asset value.

Still, it considers the possibility that the participant can choose, at the time of subscription, to receive a quarterly payment of 1% (4% nominal) as redemption, using one of the following two ways:

  • Partial Redemptions: Participants may order, on a quarterly basis, a transfer of shares to another investment fund (optimizing taxation since this is untaxed). Thus, trading is systematized. The transfer amount will equal 1% of the investment (4% nominal annually).
  • Partial Sales: Participants may order, on a quarterly basis, a partial sale of fund shares, equivalent to 1% of the investment (4% annually). In this case, the tax applies only to the percentage gained involved in the amount sold. The order can be made at the time of subscription.

The distribution class, as its name implies, pays dividends on a quarterly basis, with a value equal to the amount of profit generated in the period, measured in excess of the net asset value over 101. If no returns have been generated, the fund does not distribute dividends. In this case, 100% of the amount distributed as a "dividend" will be attributed as Capital Investments.

Details

The Fund's portfolio will be optimized for an investor in the short and medium term.

The benchmark is 15% MSCI Europe High Dividend Yield Index + 85% 1-year Euribor 100 bp.

General Information
Category Joint Euro Bond
Risk Profile Medium
Managing Company GVC Gaesco Gestión SGIICs, SA
Custodian Banc de Sabadell, SA
Launch Date 17/05/2013
NAV
Benchmark Index 15% MSCI Europe High Dividend Yield Index 85% 1-year Euribor 100bp
Currency EUR
ISIN ES0143629006
Bloomberg TBD
Liquidity Daily

Other classes available

Name Class ISIN Min. Investment NAV Date DFI
GVC Gaesco Renda Valor B ES0143629014 1 Share
1