InverCaixa launches Foncaixa DP España 2014
Spain’s InverCaixa launched today the fund Foncaixa DP España 2014, a fixed income product related to Spanish government bond yield.
The fund invests in government bonds with maturity between April 30 and October 31, 2014.
At the time of registration, credit quality is expected to be BBB + to BBB-, and the fund doesn’t have minimum credit standards and is not exposed to currency risk.
After maturity, the fund will invest in public debt repos and money market assets issued in euros, with average minimum credit rating of BBB- and average maturity of less than 3 months.
The minimum initial investment of the fund is 600 euros.