Santander AM launches passive fund
Santander Asset Management has registered with Spain’s National Securities Market Commission (CNMV) a new passive fund.
The Santander 95 Objetivo Europa fund, with a maturity date in 2018, aims to obtain 95% of the initial net asset value plus a possible return that will be 85% of the point-to-point revaluation, if positive, of the Eurostoxx50 Price index. A limit to a rise in revaluation is set at 15%.
The maximum APR could be 7.41% and the minimum -4.80%, the fund’s prospectus reads.
The management and depositary fee is 0.60%. In case an investor leaves the fund, a 3% commission for the refund will be applied.
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