BBVA boosts passive offer
Spain’s BBVA Asset Management has launched BBVA Oportunidad Acciones IV, a passive fund with annual profitability.
The fund will track the performance on the Spanish stock exchange of Telefónica, Repsol and Santander.
The fund is the fourth version of a series of funds tracking those companies performance that was originally launched in February this year.
The fund’s objective is to guarantee the total initial capital at maturity if the value of the three underlying stocks is higher or equal to its initial value.
If that doesn’t happen, the investor will receive the 100% of the initial investment less the fall of the worst-performing stock, plus 5%.
Finally, if the final value of the three stocks is equal or above their initial value by mid December of each year of the investment period, the annual profit will be of gross 5%.