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DESCRIPTION

Key Details

  • Legal StructureSicav
  • ISINES0109297038
  • Base CurrencyEuro
  • Listed MarketMercado Alternativo Bursátil
  • Bloomberg CodeS3255 SM
  • MAB CodeS3255
  • LiquidityDaily
  • SettlementT+2
  • AddressSpain
  • Management Fee1,8%
  • Performance Fee0,0%
  • Depositary Fee0,08%
  • Subscription Fee0,0%
  • Redemption Fee0,0%
  • Minimum SubscriptionOne share
  • Permanence PeriodNone
  • Time HorizonAt least 5 years (recommended)
  • Management CompanyAndbank Wealth Management SGIIC
  • Investment AdvisorSalmón Mundi S.L.
  • CustodianBanco Inversis S.A.
  • Custodian GroupBanca March S.A.
  • AuditorDeloitte S.L.

sicavs

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A Sicav is an investment company with variable capital. This open-ended collective investment scheme is supervised by the “Comisión Nacional del Mercado de Valores” (CNMV – The Spanish Securities Commission), audited and established as an incorporated company. Its corporate purpose is the management of its own wealth formed by investor subscriptions. A Sicav does benefit from the same tax rules as an investment fund, because both of them are collective investment institutions. They are being charged 1% company tax and when investors sell with a profit they are taxed based on savings at 19% up to 6,000 euros of profits, 21% between 6,000 and 50,000 euros of profits and 23% from 50,000 euros upwards*.

* Official Spanish taxable base of savings for 2016.

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