Description
Management is through a risk control system based on the VaR method, with VaR set at 7% over 1 year: i.e. a maximum non-guaranteed objective for estimated loss of 7% over 1 year, at a 95% confidence level.The portfolio is managed dynamically. There are no pre-determined criteria for the percentage distribution of asset classes (fixed income, including deposits with credit entities and liquid, unlisted money market instruments, equities and, indirectly, commodities, with a maximum limit of 25%), issuer type (public or private), countries, markets, including emerging markets, with no defined limits, sectors, stock market capitalisation, rating or average maturity for the fixed income portfolio.There are no limits on currency risk. However, investments are highly diversified so as to meet the objective risk level.The recommended time horizon is 2 years.The full content of the investment policy can be found in the prospectus and in the key investor information document (KIID) available on the website www.caixabank.es, along with all other legal documentation, and on file with the CNMV (www.cnmv.es)