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

96.110000 €

Net Asset Value

0.44%

Daily Return

-6.35%

YTD

-1.40%

Annualized Return

Liquidative Date: 30-9-2022

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

-3.89%

Since Inception

-7.28%

1 month

-11.18%

6 months

-7.48%

1 year
Since Inception
1 month
6 months
1 year

Liquidative Date: 30-9-2022

Fund
2017 -
2018 -
2019 0,00%
2020 -10,89%
2021 32,18%

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

Renta Variable

53.32%

Renta Fija

44.11%

Liquidez

2.57%

Geographical breakdown

Zona Euro

63.74%

Resto Europa

17.44%

EEUU

15.27%

Asia

3.55%

Sector Breakdown

Gobierno

24.97%

Equip. y servicios de energía

15.31%

Transporte y almacenamiento de petróleo y gas

10.04%

Exploración de petróleo y gas

5.86%

Conglomerados industriales

5.53%

Entidades financieras

5.12%

Venta al por menor

4.16%

Servicios de telecomunicaciones

4.03%

Aeroespacial y defensa

3.05%

Farmacéutico y biotecnología

2.83%

Tesorería

2.57%

Maquinaria

2.25%

Automóviles y componentes

2.24%

Minería y metales

2.07%

Transporte

2%

Alimentos, bebidas y tabaco

1.85%

Ingeniería y construcción

1.68%

Servicios comerciales

1.55%

Medios y entretenimiento

0.75%

Hogar y Productos domésticos

0.67%

Servicios de consumo

0.55%

Equip. y servicios de salud

0.54%

Papelero

0.35%

Fund Data - Surnepensión Cobas 50/50

Fundamental Data

ISIN Code

n.d.

CNMV registration code

n.d.

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%

Other expenses

0.35%

TER

1.95%

Redemption fee

n.d.

Assets under management