Spain’s Ibercaja launches two funds

Spanish asset manager Ibercaja Gestión has launched two guaranteed funds in less than two months.

The first vehicle, Ibercaja 2024 Garantizado, was launched on 17 June, according to the mutual fund’s prospectus submitted to the Spanish regulator CNMV.

The fund is investing in fixed income, and it could have an exposure of up to 20% in risky European low-credit-quality fixed-income securities if needed, the prospectus reads.

Its maturity was further extended until November 2024, from May of the same year. If investments are hold until that date, the bank guarantees an initial asset value of 103.70% after maturity.

On 10 August, Ibercaja launched a second version of the vehicle that started to be commercialised in June this year.

The new fund will also invest in fixed income throughout the next nine years, and has a guaranteed APR of 0.45%.

Outflows before maturity will be charged with a 3% fee. The fund’s management fee is 0.45%.

Ibercaja bank posted a 23.3% growth in its investment funds’ assets over the first half of the year.

Assets under management (AUM) stood at €3.05bn through June this year, as the Spanish bank added about 10,000 new clients over the period.

By the end of June, Ibercaja had over over 65,500 customers investing in active funds from the group.

Alicia Villegas
Alicia Villegas speaks Spanish and Italian and is Iberia Correspondent for InvestmentEurope. She was shortlisted for the Rising Star Award at the British Media Awards 2017 and Writer of the Year at the PPA Independent Publisher Awards 2016. Previously, she worked for almost three years at the seafood business website Undercurrent News as a market reporter. In Spain, she also worked for more than five years for several media outlets.

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