Spain’s Bankia Fondos has registered with Spain’s National Securities Market Commission (CNMV) the new guaranteed fixed return fund Bankia Garantizado Creciente 2024.
The fund, with maturity in December 2024, will be distributed in the first weeks of next year. It uses the structure of another fixed return fund, Bankia Garantizado Rentas 7, that invested in private an public fixed income securities and expired this year.
The investment vehicle has an APR of 1.027% to maturity. Bankia guarantees upon maturity 100% of the initial net asset value, plus the payment, calculated on the initial investment, of 31 quarterly instalments.
Four annual payments will be made in late February, May, August and November, except for the first year that will be made three, with each income of a gross amount of 0.0875% in 2017; 0.125% in 2018; 0.175% in 2019; 0.225% in 2020; 0.275% by 2021; 0.325% by 2022; 0.375% by 2023 and 0.45% by 2024.
This guaranteed fund with a fixed yield requires a minimum investment of €100 and has a management and depository fee of 0.47%. In case an investor leaves the fund, a 3% redemption fee will be applied.