BBVA mergers risk profiled funds range
The Spanish regulator CNMV has authorised the merger of BBVA risk profiled funds, resulting in a new range called Quality Inversion, a spokesperson for the bank told InvestmentEurope.
BBVA Multiactivo Conservador, Moderado and Decidido have been thus absorbed by Quality Cartera Conservadora BP, Moderada and Decidida.
The new range of funds will see an increase of assets under management as they will have access to the institutional class of international funds, which involves less costs for assets’ transactions and higher investment possibilities, the spokesperson said.
The merger seeks to obtain greater managing efficiency as well as simplifying the selection of the most suitable product for each profile, he said.
With a minimum investment of €600, from €30,000, clients will also see a reduction of fees.
The conservative portfolio will have a management fee of 1.10% from 1.45%, the moderate strategy’s fee will be 1.30% from 1.65%, while the fee the highest risk fund will be 1.75%, from 2%.