Unigest launches absolute return Fof

Unigest, the asset management arm of Spain’s Grupo Unicaja, has launched an absolute return fund of funds.

The new fund, called Unifond Cartera Defensiva, will use alternative management techniques seeking absolute returns, regardless of the direction of capital markets.

Through third-party funds, it may invest in equities or public and private fixed income, and its goal is a volatility of less than 1.8% per year.

Active management may lead to higher costs for the investor, according to the fund’s brochure, and the management fee amounts to 0.5% per year on the asset value.

Following its merger with Caja España Fondos last year, Unigest’s assets total more than €5bn. Nearly half of these assets are invested in guaranteed funds or passive funds, compared with the Spanish fund industry average of 17.9%, according to industry body Inverco figures to the end of April.

 

ABOUT THE AUTHOR
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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