Ibercaja Gestión, the asset management business of the Spanish bank Ibercaja, has launched a target maturity fund that will primarily invest in Italian public debt.
As its name suggests, Ibercaja Objetivo 2028, will run until the end of September 2028, investing over 70% of the fund's portfolio in bonds issued by Italy and the remaining part of it in public and private fixed income issued by OECD markets. The fund will have an average duration below nine years.
As per the bonds' credit quality, the Fund can invest up to 30% in low credit bonds (BB+, BB or BB-), impacting negatively in the fund's liquidity, reads the fund's prospectus.
The fund's goal is to provide returns in line with the assets in which it invests.