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Cajamar Fixed Returns. Pensions plans

Pensions plans

Risk Indicator required by the O.M. ECC/2316/2015

« Lower risk
Lower potential compensation
Higher risk »
Higher potential compensation

Pay-out of the allowance or exercising the right to redeem the investment made is only possible in the event of one of the exceptional liquidity contingencies or circumstances regulated by legislation governing pension plans and funds.

The value of the rights or mobilisation, allowances, and exceptional liquidity circumstances depends on the market value of the assets in the pension fund, and can lead to substantial losses.

Contracted with CAJAMAR Vida S.A. Insurance and Reinsurance. Pension plan designed as a conservative investment, looking for maximum returns with moderate risk.


These may be periodical (monthly, three-monthly, six-monthly, annual) or occasional (the shareholder can make a single contribution or several times throughout the natural year). Minimum contribution of 30 euros.

The pension fund investment policy shall be implemented in accordance with security, profitability, diversification, dispersion, liquidity, monetary congruence and term criteria appropriate to its aims. The pension fund assets shall be invested in the interests of the unit holders and beneficiaries, with the objective of obtaining the maximum long-term profitability.

The management shall be performed by honourable professionals with suitable and appropriate qualifications and experience in the area concerned.

Investing its net worth in:

  • Fixed Income Assets (fixed income which is either private - Corporate - or public - Government: promissory notes, shares in joint venture institutions - fixed-income stock investment funds, etc...)
  • and Liquid Assets (current accounts, repos, deposits, promissory notes, shares in joint venture institutions - FIAMM money market funds), with a duration equal to or less than 3 months,

and to which the following limits apply:

Government/Corporate asset limits within total fund
Asset type Minimum Maximum
Government 20% 100%
Corporate 0% 80%
Credit rating limits for fixed income and liquid assets
Internal rating Minimum Maximum
Investment Grade
(AAA + AA + A + BBB)
90% 100%
High Yield 0% 10%

Liquid assets and fixed income assets issued by the Kingdom of Spain and current accounts are excluded from the credit rating limit calculation.

For the purposes of rating, the second best of the three main agencies shall be used: Moody's, Standard & Poors and Fitch Ibca; and liquid assets shall be assigned the rating associated to the issuer's long-term debt. In the event that the aforementioned credit rating limits are not adhered to as a consequence of an unexpected drop in the rating of one of the portfolio's assets, the MANAGER shall have 3 months from the date on which this circumstance occurs to adjust the previous limits in the best possible market conditions.

  • Management firm: Cajamar Vida, S.A., EGFP, CIF: A-04465555. Almeria Trade Register, T. 838, L. O. F.1, H. AL-20409.
  • Custodian: CECABANK, S.A. - Reg. Address: Calle Alcalá, nº 27, 28014 Madrid, Spain - C.I.F. A-86436011 - D0193. Entered in the Madrid Trade Register, volume 30,405, Book 0, Folio 57, Section 8, Sheet M-547250.
  • Promoter: CAJAMAR Caja Rural, Sociedad Cooperativa de Crédito. Entered in the Almeria Trade Register, V.1.526, B. 0, F.1, Sheet AL-40338, 1st entry dated 31 October 2012. Fiscal Code (C.I.F.) F-04743175. Reg. Address Plaza de Juan del Águila Molina, 5 04006 – Almería.
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