Luxembourg-headquartered KBL European Private Bankers has landed in Spain registering an absolute return fund in the National Securities Market Commission (CNMV).
KBL Precision Absolute Fund, launched last August and officially registered in Spain on the 21 of December, aims at obtaining positive returns in any market environment subject to a maximum annual volatility below 5%.
The Fund will invest in equities and fixed income, both public and private, and according to the fund's prospectus it might not be suitable for those investors planning to withdraw their money in the next three years.
It presents two types of shares available: class A, with a minimum investment of €600 and a management fee of 0.75%; and class Z, aimed at clients with a discretionary portfolio management contract. In this case, the minimum investment will be also of €600 except for the group of employees, retirees and early retirees of the KBL Group, with a management commission of 0.2%.