Description
The benchmark for the fund will be the yield on inflation-linked Spanish public sector bonds maturing on 11/30/2024, held from acquisition until maturity, less fees and costs.The objective is to achieve a return consistent with investment in Spanish public debt maturing on 11/30/2024, for issues where the annual coupon and nominal on maturity are linked to Eurozone inflation (ex-tobacco).Whilst the objective is to achieve a gross return consistent with Eurozone inflation (ex-tobacco), this will vary in response to the value of the aforementioned inflation-linked issue.The fund will invest in Spanish public debt currently rated as medium credit quality (BBB). Given the investment objective, the issues may be retained in the portfolio in the event of any substantial falls in credit quality. The fund may also invest up to 10% in loans and advances to credit institutions and money market instruments not traded on organised markets. The credit quality of such asset classes shall be at least equivalent to that of Spanish public debt.The estimated average duration for the portfolio at the time it is constituted shall be 8.24 years, gradually decreasing as we approach 11/30/2024.The recommended time horizon is 11/30/2024.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)