March Bonos, P.P.
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Category "1" does not mean that the investment is risk-free
We also specialise in active management in fixed income: a strategy that combines macro perspectives and investment opportunities in sovereign issuers and credit. The aim is to maximise returns and control risk.
What is it?
The fund's management focuses on finding the best investment opportunities in the fixed income universe: Sovereign Debt, corporate, money market instruments with limited currency risk (only 5% may be in another, non-euro currency). A position is taken in assets that show the best revaluation potential, while trying to reduce the interest-rate risk assumed, maintaining a duration of 2-4 years.
The average credit quality of the portfolio is high, although up to 25% in positions on issuances with a rating of less than BBB- may be taken, in which case, for example, promissory notes from unrated companies will also be included. Although most issues will be denominated in EUR, up to 5% can be invested in other currencies in issues that offer attractive returns.
Why invest?
Active management in fixed income means being clear about how we want to position ourselves on the curve, choosing the countries, sectors and type of bonds we want to position ourselves in, and using short-term market movements to take tactical positions in bonds that are undervalued or sell those that have increased in price. Deciding which type of issue is more interesting to invest in, whether mortgage bonds, floating rate bonds or senior corporate bonds.
It is aimed at clients who wish to invest in a EUR bond strategy that moves in a duration range of 2 to 4 years, thus taking on some interest rate risk, and who opt for active and opportunistic management of this investment.
Return/Risk
Escenarios de rentabilidad |
Periodo 1 (1 año) | Periodo 2 (MID) | Periodo 3 (RHP) | ||||
|---|---|---|---|---|---|---|---|
| Mínimo | Importe (EUR) | ||||||
| Rent. anual media (%) | |||||||
| Tensión | Importe (EUR) | ||||||
| Rent. anual media (%) | |||||||
| Desfavorable | Importe (EUR) | ||||||
| Rent. anual media (%) | |||||||
| Moderado | Importe (EUR) | ||||||
| Rent. anual media (%) | |||||||
| Favorable | Importe (EUR) | ||||||
| Rent. anual media (%) | |||||||
Return during the selected period:
Last net asset value: a fecha
RETURN *
| 1 month | 3 months | 6 months | 1 year | 3 years | ||
|---|---|---|---|---|---|---|
RISK *
| Volatility | |
|---|---|
* Data at date:
Key figures
- Launch date:
- Management fee:
- Assets (€):
- Manager:
- Identifier code:
- Liquidity:
- Article SFDR:
- Manager:
- Depositary:
Managed by
Francisco Javier Pérez Fernández
Francisco Javier Pérez FernándezHead of Global Equities
Javier started his professional career in the sales division at Crédit Lyonnais. He later joined Banco Banif, where he was head of international equities, until he joined March A.M. in 2000 as global equities manager.
He has been named as one of the best global equities managers by Inversión magazine and rated AA by Citywire.
Javier holds a degree in Economics from the Universidad Complutense de Madrid and is certified by the Instituto Español de Analistas Financieros (Certified European Financial Analyst). He also holds a diploma in Value Investing and Search for Value from the Ivey Business School in Toronto, Canada. Plus, he is certified in ESG investing by CFA.
