MERCHBANC FONDTESORO is a money market fund fully invested in government issues, with the exception of the liquidity which can be invested in other money market assets.
The Fund may invest through the Futures or Spot markets for hedging. Since the Fund is invested at very short term, the Fund yield closely follows the movement of interest rates in the Spanish market.
The Fund merits the Fondtesoro label which is granted by the Spanish Treasury Department to specific funds, and therefore it must invest in Spanish Government Securities and comply with certain specific requirements.
The objective of the Fund is to seek capital appreciation and a competitive rate of return.
Investors may invest with different time horizons.
Management fee: Charged on performance.
The fee cannot be higher than 0.60% on Net Assets and 3.33% on Performance.
The management fee cannot go above 1% on Net Assets.
Custodian fee: 0.10% on Net Assets.