Santander AM launches another fund for private banking

Santander Private Banking Spain has launched the Santander PB Strategic Allocation fund through Santander Asset Management.

The new fund raises to three the number of funds aimed at high net worth individuals launched by Santander throughout 2018.

The Santander PB Strategic Allocation, managed by the team led by Santander AM Asset Allocation director Óscar Valcárcel, can invest up to 95% in equities and at least 5% in fixed income. The fund will use half of its portfolio at most to access those assets through other collective investment institutions. Management is based on the performance of the MSCI AC World Hedge EUR, Merril Lynch Euro Govt 1-3Y and Eonia.

According to the fund’s prospectus, it can invest up to 30% in convertible bonds and a maximum of 10% in commodity indices and in derivative financial instruments whose profitability is associated to volatility indices.

Santander AM’ funds aimed at private banking clients account for some €5.3bn in assets under management.

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

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