Investment philosophy

It will invest between 30% and 55% of the assets in equities and the remainder in fixed income assets.

It will invest in equities of all capitalisations and sectors, mainly in OECD issuers/markets, with up to 40% of the total equity exposure to emerging market issuers/markets.

Fixed income will be mainly public but also private.

Currency risk will be 0-50% of total assets.

Derivative financial instruments, traded and not traded on organised derivatives markets, may be used for hedging purposes, in accordance with the terms established by the legislation in force.

Management objective

The management objective is to build up capital to cover the contingencies of retirement, disability in its different degrees, severe or great dependence and death of the Participant or Beneficiary, applying an investment philosophy based on value investing, selecting assets that are undervalued by the market and have a high potential for revaluation.

Surnepensión Cobas 50/50

105.190000 €

Net Asset Value

0.58%

Daily Return

3.91%

YTD

1.65%

Annualized Return

Liquidative Date: 13-1-2023

The classes of this investment fund share the same investment portfolio, differing only in the management fee applied, which varies depending on the seniority of the participant.

Past returns do not presuppose future returns. Investment in equities can lead to losses of the capital invested, and is not recommended for time horizons of less than 5 years. The vehicle does not have any reference index in its management.

Surnepensión Cobas 50/50

5.19%

Since Inception

1.91%

1 month

5.14%

6 months

-1.29%

1 year
Since Inception
1 month
6 months
1 year

Liquidative Date: 13-1-2023

Plan
2018 -
2019 0,00%
2020 -10,89%
2021 15,17%
2022 -1,36%

Past returns do not presuppose future returns. Investment in equities can lead to losses of the capital invested, and is not recommended for time horizons of less than 5 years. The vehicle does not have any reference index in its management.

Fund breakdown

Asset class breakdown

Equity

53.32%

Fixed Income

44.11%

Liquidity

2.57%

Geographical breakdown

Eurozone

63.74%

Other Europe

17.44%

USA

15.27%

Asia

3.55%

Sector Breakdown

Government

24.97%

Energy Equipment & Services

15.31%

Oil & Gas Storage & Transportations

10.04%

Oil & Gas Exploration & Products

5.86%

Industrial Conglomerates

5.53%

Diversified Financials

5.12%

Retailing

4.16%

Telecommunication Services

4.03%

Aerospace & Defense

3.05%

Pharmaceuticals, Biotechnology

2.83%

Cash

2.57%

Machinery

2.25%

Automobiles & Components

2.24%

Metals & Mining

2.07%

Transportation

2.%

Food, Beverage & Tobacco

1.85%

Construction & Engineering

1.68%

Consumer Services

1.55%

Media & Entertainment

0.75%

Household & Personal Products

0.67%

Consumer Services

0.55%

Health Care Equipment & Services

0.54%

Paper & Forest Products

0.35%

Fund Data - Surnepensión Cobas 50/50

Fundamental Data

DGS plan code

25

DGS fund code

25

Registration date

Management company

Surne Mutua de Seguros y Seguros a Prima Fija

Registered office

C/ Cardenal Gardoqui 1, Bajo. 48008 Bilbao. España.

Depositary

Bankinter SA

Auditor

PFK ATTEST

Bloomberg code

n.d.

Fund Profile

Fund type

Legal form

EPSV

Investment style

Value

Morningstar category

n.d.

Currency

EUR

Asset manager(s)

Francisco García Paramés / Surne Mutua de Seguros y Seguros a Prima Fija

Investment Profile

Minimum initial investment

n.d.

Minimum additional investment

n.d.

Net asset value

Diario

Management fee

1.6%

Custody fee

0.35%

TER

1.95%

Redemption fee

n.d.

Assets under management