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265.54 620.929 l
262.719 627.525 l
259.897 624.439 l
257.167 630.881 l
254.345 622.935 l
251.614 631.228 l
248.796 634.082 l
246.248 633.542 l
240.605 626.985 l
237.874 626.021 l
235.049 627.409 l
232.5 630.032 l
S
q
226.5 507.389 8 25.5 re
W n
3 w
226.5 532.889 m
234.5 532.889 l
S
Q
BT
8 0 0 8 237.5 526.8892 Tm
0 0 0 1 k
-0.025 Tc
(Goldman Sachs Global Currency Plus Portfolio )Tj
0 -1.25 TD
(Base Shares)Tj
/F2 1 Tf
4 0 0 4 276.18 519.9892 Tm
-0.05 Tc
(\(3\))Tj
ET
q
394 507.389 4 25.5 re
W n
1 0.84 0.31 0.17 K
3 w
394 532.889 m
398 532.889 l
S
Q
q
400 507.389 4 25.5 re
W n
1 0.84 0.31 0.17 K
3 w
400 532.889 m
404 532.889 l
S
Q
BT
/F1 1 Tf
8 0 0 8 407 526.8892 Tm
-0.025 Tc
(Overnight US Libor)Tj
ET
q
0.2 i
407 522.389 153.5 10.5 re
W n
BT
/F2 1 Tf
4 0 0 4 463.384 529.9892 Tm
0 Tc
(\()Tj
ET
Q
BT
/F2 1 Tf
4 0 0 4 464.072 529.9892 Tm
0 Tc
(4)Tj
ET
q
0.2 i
407 522.389 153.5 10.5 re
W n
BT
4 0 0 4 465.648 529.9892 Tm
(\))Tj
ET
Q
BT
7.5 0 0 7.5 212.5 501.8892 Tm
(Este fondo se gestiona de forma activa y no est diseado para emular la evolucin de su indicador de referencia. Por )Tj
0 -1.2667 TD
[(consiguiente, la rentabilidad del fondo y la de su indicador de referencia podran discrepar)70(. Adems, a diferencia de las del )]TJ
T*
(indicador de referencia, las rentabilidades del fondo reejan cargos de gestin y dems comisiones.)Tj
/F5 1 Tf
36.088 0 TD
( Las rentabilidades )Tj
-36.088 -1.2667 TD
[(obtenidas en el pasado no garantizan los resultados futuros, que pueden variar)70(. El valor de las inversiones y de los )]TJ
T*
[(ingresos derivados de las mismas ucta, y puede tanto caer como aumentar)70(. Por consiguiente, el capital invertido )]TJ
T*
(podra sufrir minusvalas.)Tj
ET
q
212.5 425.389 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 441.889 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 430.8893 Tm
0 0 0 0 k
[(R)20(esumen de rentabilidad \(%\))]TJ
/F5 1 Tf
8 0 0 8 397.412 413.8892 Tm
0 0 0 1 k
-0.025 Tc
[(Acumulada)-8819(Anualizada)]TJ
/F2 1 Tf
-6.17 -2.9375 TD
[(Desde Lanz.)-1334(1 mes)-801(3 meses)-1575(YTD)]TJ
ET
q
465.5 385.889 5 23.5 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
469.5 409.389 m
469.5 384.389 l
S
Q
BT
8 0 0 8 475.516 390.3893 Tm
[(1 ao)-763(3 aos)-763(5 aos)]TJ
10.035 1.3125 TD
(10 )Tj
-0.783 -1.3125 TD
(aos)Tj
ET
q
212.5 372.889 128 13 re
W n
0.132 0.08 0.028 0 k
212.5 385.889 128 -13 re
f
Q
BT
8 0 0 8 217.5 377.3892 Tm
(Clase Base)Tj
4 0 0 4 247.484 380.8892 Tm
-0.05 Tc
(\(3\))Tj
ET
0.132 0.08 0.028 0 k
340.5 385.889 45 -13 re
f
BT
8 0 0 8 362.364 377.3892 Tm
0 0 0 1 k
-0.025 Tc
(\(12.69\))Tj
ET
q
385.5 372.889 27 13 re
W n
0.132 0.08 0.028 0 k
385.5 385.889 27 -13 re
f
Q
BT
8 0 0 8 395.868 377.3892 Tm
(0.68)Tj
ET
q
412.5 372.889 29 13 re
W n
0.132 0.08 0.028 0 k
412.5 385.889 29 -13 re
f
Q
BT
8 0 0 8 421.716 377.3892 Tm
(\(2.65\))Tj
ET
0.132 0.08 0.028 0 k
441.5 385.889 24 -13 re
f
BT
8 0 0 8 442.364 377.3892 Tm
0 0 0 1 k
(\(10.78\))Tj
ET
q
465.5 372.889 5 13 re
W n
0.132 0.08 0.028 0 k
465.5 385.889 5 -13 re
f
0 0 0 1 K
1 w [2 2 ]2 d
469.5 385.889 m
469.5 360.889 l
S
Q
0.132 0.08 0.028 0 k
470.5 385.889 25 -13 re
f
BT
8 0 0 8 475.716 377.3892 Tm
0 0 0 1 k
(\(9.49\))Tj
ET
0.132 0.08 0.028 0 k
495.5 385.889 24 -13 re
f
BT
8 0 0 8 499.716 377.3892 Tm
0 0 0 1 k
(\(3.67\))Tj
ET
0.132 0.08 0.028 0 k
519.5 385.889 24 -13 re
f
BT
8 0 0 8 523.716 377.3892 Tm
0 0 0 1 k
(\(1.86\))Tj
ET
0.132 0.08 0.028 0 k
543.5 385.889 24 -13 re
f
BT
8 0 0 8 547.716 377.3892 Tm
0 0 0 1 k
(\(1.28\))Tj
-41.277 -1.625 TD
(Overnight US Libor)Tj
4 0 0 4 268.108 367.8892 Tm
-0.05 Tc
(\(4\))Tj
8 0 0 8 368.868 364.3892 Tm
-0.025 Tc
[(4.49)-1921(0.16)-2171(0.49)-1546(1.31)]TJ
ET
q
465.5 359.889 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
469.5 372.889 m
469.5 347.889 l
S
Q
BT
8 0 0 8 478.868 364.3892 Tm
[(1.63)-1546(0.9)]TJ
ET
q
0.2 i
495.5 359.889 19 11 re
W n
BT
8 0 0 8 511.148 364.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 526.868 364.3892 Tm
[(0.61)-1546(0.42)]TJ
ET
q
212.5 336.389 128 23.5 re
W n
0.132 0.08 0.028 0 k
212.5 359.889 128 -23.5 re
f
Q
BT
8 0 0 8 217.5 351.3892 Tm
(Clase Other Currency \(Acu.\) \(cobertura en )Tj
0 -1.3125 TD
(EUR\))Tj
4 0 0 4 230.476 344.3892 Tm
-0.05 Tc
(\(3\))Tj
ET
0.132 0.08 0.028 0 k
340.5 359.889 45 -23.5 re
f
BT
8 0 0 8 362.364 351.3892 Tm
0 0 0 1 k
-0.025 Tc
(\(16.77\))Tj
ET
q
385.5 336.389 27 23.5 re
W n
0.132 0.08 0.028 0 k
385.5 359.889 27 -23.5 re
f
Q
BT
8 0 0 8 395.868 351.3892 Tm
(0.47)Tj
ET
q
412.5 336.389 29 23.5 re
W n
0.132 0.08 0.028 0 k
412.5 359.889 29 -23.5 re
f
Q
BT
8 0 0 8 421.716 351.3892 Tm
(\(3.34\))Tj
ET
0.132 0.08 0.028 0 k
441.5 359.889 24 -23.5 re
f
BT
8 0 0 8 442.364 351.3892 Tm
0 0 0 1 k
(\(12.67\))Tj
ET
q
465.5 336.389 5 23.5 re
W n
0.132 0.08 0.028 0 k
465.5 359.889 5 -23.5 re
f
0 0 0 1 K
1 w [2 2 ]2 d
469.5 359.889 m
469.5 334.889 l
S
Q
0.132 0.08 0.028 0 k
470.5 359.889 25 -23.5 re
f
BT
8 0 0 8 472.364 351.3892 Tm
0 0 0 1 k
(\(11.90\))Tj
ET
0.132 0.08 0.028 0 k
495.5 359.889 24 -23.5 re
f
BT
8 0 0 8 499.716 351.3892 Tm
0 0 0 1 k
(\(5.38\))Tj
ET
0.132 0.08 0.028 0 k
519.5 359.889 24 -23.5 re
f
BT
8 0 0 8 523.716 351.3892 Tm
0 0 0 1 k
(\(2.92\))Tj
ET
0.132 0.08 0.028 0 k
543.5 359.889 24 -23.5 re
f
BT
8 0 0 8 547.716 351.3892 Tm
0 0 0 1 k
(\(1.78\))Tj
-41.277 -2.9375 TD
(O/N EUR Libor)Tj
4 0 0 4 256.668 331.3892 Tm
-0.05 Tc
(\(4\))Tj
8 0 0 8 368.868 327.8892 Tm
-0.025 Tc
(1.9)Tj
ET
q
0.2 i
340.5 323.389 40 11 re
W n
BT
8 0 0 8 377.148 327.8892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 392.716 327.8892 Tm
[(\(0.04\))-1777(\(0.11\))-1152(\(0.33\))]TJ
ET
q
465.5 323.389 5 13 re
W n
0 0 0 1 K
1 w [2 2 ]2 d
469.5 336.389 m
469.5 311.389 l
S
Q
BT
8 0 0 8 475.716 327.8892 Tm
[(\(0.45\))-1152(\(0.40\))-1152(\(0.25\))-1546(0.16)]TJ
ET
q
212.5 300.889 355 16.5 re
W n
0.53 0.32 0.11 0 k
212.5 317.389 355 -16.5 re
f
Q
BT
/F4 1 Tf
10 0 0 10 216.5 306.3892 Tm
0 0 0 0 k
0 Tc
[(R)20(entabilidad en el ao natural \(%\))]TJ
/F2 1 Tf
8 0 0 8 449.092 292.3892 Tm
0 0 0 1 k
-0.025 Tc
[(2013)-1449(201)]TJ
ET
q
0.2 i
467.5 287.889 20 11 re
W n
BT
8 0 0 8 484.148 292.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 499.092 292.3892 Tm
[(2015)-1449(2016)-1449(2017)]TJ
ET
0.132 0.08 0.028 0 k
212.5 287.889 230 -13 re
f
BT
8 0 0 8 217.5 279.3892 Tm
0 0 0 1 k
(Clase Base)Tj
ET
q
442.5 274.889 25 13 re
W n
0.132 0.08 0.028 0 k
442.5 287.889 25 -13 re
f
Q
BT
8 0 0 8 452.196 279.3892 Tm
(-0.7)Tj
ET
0.132 0.08 0.028 0 k
467.5 287.889 25 -13 re
f
BT
8 0 0 8 479.22 279.3892 Tm
0 0 0 1 k
(4.3)Tj
ET
q
492.5 274.889 25 13 re
W n
0.132 0.08 0.028 0 k
492.5 287.889 25 -13 re
f
Q
BT
8 0 0 8 502.196 279.3892 Tm
(-2.0)Tj
ET
0.132 0.08 0.028 0 k
517.5 287.889 25 -13 re
f
BT
8 0 0 8 527.196 279.3892 Tm
0 0 0 1 k
(-2.7)Tj
ET
q
542.5 274.889 25 13 re
W n
0.132 0.08 0.028 0 k
542.5 287.889 25 -13 re
f
Q
BT
8 0 0 8 554.22 279.3892 Tm
(2.7)Tj
-42.09 -1.625 TD
[(Overnight US Libor)-23264(0.1)-2090(0.1)-2090(0.1)-2090(0.)]TJ
ET
q
0.2 i
517.5 261.889 20 11 re
W n
BT
8 0 0 8 534.148 266.3892 Tm
0 Tc
(4)Tj
ET
Q
BT
8 0 0 8 554.22 266.3892 Tm
(1.0)Tj
ET
q
0.2 i
217.5 158 350 19.5 re
W n
BT
/F5 1 Tf
7.5 0 0 7.5 217.5 172 Tm
0 Tc
(C)Tj
ET
Q
BT
/F5 1 Tf
7.5 0 0 7.5 221.47 172 Tm
-0.0267 Tc
(onsulte el apartado de Informacin Adicional. Todos los datos de rentabilidad y de posiciones de cartera son actuales a )Tj
-0.5293 -1.2667 TD
(30.sep.2018.)Tj
0 -1.3333 TD
0 Tc
[(Las rentabilidades obtenidas en el pasado no son garanta de resultados futuros, que podrn variar)70(.)]TJ
/F2 1 Tf
0 -1.2667 TD
(* Identicamos dos grandes categoras de fondos para ayudar a los inversores a pensar sobre cmo construir su cartera de )Tj
T*
(inversin total. A los siguientes fondos los denominamos)Tj
/F5 1 Tf
20.6 0 TD
( bsicos)Tj
/F2 1 Tf
4.276 0 TD
( \(core\): \(A\) Fondos de renta variable con un mandato de )Tj
-24.876 -1.2667 TD
(inversin global, o concentrados principalmente en los mercados estadounidense y europeo, debido al tamao y la transparencia )Tj
T*
(de estos mercados. \(B\) Fondos de renta ja con un mandato de inversin global, o aquellos concentrados principalmente en los )Tj
T*
(mercados estadounidense, europeo y britnico, y que invierten predominantemente en deuda con grado de inversin, incluida la )Tj
T*
(de emisores gubernamentales. \(C\) Fondos multi-activo con un ndice de referencia que abarca varias clases de activo. Por su )Tj
T*
(naturaleza, los fondos bsicos pueden conllevar mayores niveles de riesgo. A todos los dems fondos los consideramos)Tj
/F5 1 Tf
43.142 0 TD
( )Tj
-43.142 -1.2667 TD
(complementarios)Tj
/F2 1 Tf
7.943 0 TD
(, y estos tambin pueden tener niveles de riesgo variados. No se garantiza de ningn modo que estos )Tj
-7.943 -1.2667 TD
(objetivos vayan a cumplirse.)Tj
T*
(Para carteras concentradas en regiones especcas, comprendemos que su categorizacin puede ser distinta en funcin de la )Tj
T*
[(perspectiva de cada inversor)70(.)]TJ
/F5 1 Tf
10.48 0 TD
( Antes de invertir debe considerar cuidadosamente sus objetivos nancieros. Su asesor )Tj
ET
q
0.2 i
217.5 24.5 350 133.5 re
W n
BT
7.5 0 0 7.5 217.5 38.5 Tm
()Tj
ET
Q
BT
7.5 0 0 7.5 221.25 38.5 Tm
(nanciero puede ayudarle a determinar si una inversin en este fondo y la cantidad que desea invertir son )Tj
-0.5 -1.2667 TD
(adecuadas.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
87.287 57.021 88.496 57.392 89.516 57.392 c
90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
88.115 51.51 87.195 51.855 87.287 53.436 c
88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
95.846 57.392 96.821 56.875 96.733 55.654 c
95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
93.369 51.51 92.452 51.855 92.54 53.436 c
94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
100.607 52.518 100.719 53.055 100.719 53.524 c
102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
102.175 57.392 102.412 56.013 102.355 54.197 c
99.331 54.197 l
f
103.117 57.278 m
103.757 57.278 l
103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
105.336 56.304 l
105.336 53.279 l
105.336 52.851 105.324 52.574 105.84 52.574 c
105.942 52.574 106.042 52.574 106.12 52.595 c
106.12 51.62 l
105.908 51.599 105.684 51.565 105.304 51.565 c
103.935 51.565 103.757 52.47 103.757 52.819 c
103.757 56.304 l
103.117 56.304 l
103.117 57.278 l
f
80.093 40.002 m
80.093 48.092 l
82.817 48.092 l
84.083 42.59 l
84.105 42.59 l
85.449 48.092 l
88.083 48.092 l
88.083 40.002 l
86.436 40.002 l
86.436 46.242 l
86.412 46.242 l
84.856 40.002 l
83.242 40.002 l
81.763 46.242 l
81.74 46.242 l
81.74 40.002 l
f
90.704 41.761 m
90.704 41.357 90.771 40.865 91.285 40.865 c
92.217 40.865 92.071 42.118 92.071 42.735 c
91.285 42.701 90.704 42.77 90.704 41.761 c
93.618 41.054 m
93.618 40.706 93.663 40.349 93.696 40.002 c
92.227 40.002 l
92.159 40.751 l
92.137 40.751 l
91.801 40.169 91.344 39.891 90.659 39.891 c
89.561 39.891 89.157 40.706 89.157 41.693 c
89.157 43.564 90.601 43.642 92.071 43.62 c
92.071 44.057 l
92.071 44.538 92.003 44.887 91.432 44.887 c
90.884 44.887 90.838 44.472 90.838 44.023 c
89.292 44.023 l
89.292 44.707 89.504 45.144 89.874 45.401 c
90.232 45.672 90.749 45.772 91.353 45.772 c
93.359 45.772 93.618 44.91 93.618 43.877 c
93.618 41.054 l
f
96.451 45.088 m
96.474 45.088 l
96.632 45.346 96.821 45.514 97.033 45.614 c
97.26 45.727 97.516 45.772 97.807 45.772 c
98.556 45.772 99.22 45.322 99.22 44.538 c
99.22 40.002 l
97.64 40.002 l
97.64 43.9 l
97.64 44.403 97.549 44.797 97.046 44.797 c
96.541 44.797 96.451 44.403 96.451 43.9 c
96.451 40.002 l
94.871 40.002 l
94.871 45.66 l
96.451 45.66 l
96.451 45.088 l
f
101.795 41.761 m
101.795 41.357 101.862 40.865 102.379 40.865 c
103.309 40.865 103.164 42.118 103.164 42.735 c
102.379 42.701 101.795 42.77 101.795 41.761 c
104.709 41.054 m
104.709 40.706 104.754 40.349 104.789 40.002 c
103.318 40.002 l
103.253 40.751 l
103.231 40.751 l
102.896 40.169 102.436 39.891 101.753 39.891 c
100.652 39.891 100.25 40.706 100.25 41.693 c
100.25 43.564 101.695 43.642 103.164 43.62 c
103.164 44.057 l
103.164 44.538 103.097 44.887 102.525 44.887 c
101.975 44.887 101.931 44.472 101.931 44.023 c
100.386 44.023 l
100.386 44.707 100.598 45.144 100.967 45.401 c
101.326 45.672 101.841 45.772 102.446 45.772 c
104.453 45.772 104.709 44.91 104.709 43.877 c
104.709 41.054 l
f
108.061 41.054 m
108.63 41.054 108.708 41.648 108.708 42.848 c
108.708 44.091 108.653 44.797 108.072 44.797 c
107.476 44.797 107.374 44.382 107.374 42.657 c
107.374 42.129 107.296 41.054 108.061 41.054 c
110.29 45.66 m
110.29 39.765 l
110.29 39.374 110.311 37.826 108.136 37.826 c
106.959 37.826 105.953 38.131 105.919 39.509 c
107.465 39.509 l
107.465 39.274 107.499 39.072 107.599 38.938 c
107.702 38.791 107.881 38.713 108.126 38.713 c
108.519 38.713 108.708 39.082 108.708 39.655 c
108.708 40.741 l
108.687 40.741 l
108.453 40.303 108.003 40.08 107.488 40.08 c
105.751 40.08 105.83 41.67 105.83 42.949 c
105.83 44.192 105.852 45.772 107.499 45.772 c
108.061 45.772 108.54 45.525 108.765 44.997 c
108.787 44.997 l
108.787 45.66 l
110.29 45.66 l
f
114.523 43.464 m
114.523 44.012 114.546 44.797 113.795 44.797 c
113.067 44.797 113.08 43.944 113.08 43.464 c
h
113.08 42.578 m
113.08 41.904 113.101 40.898 113.795 40.898 c
114.356 40.898 114.468 41.435 114.468 41.904 c
116.071 41.904 l
116.048 41.288 115.846 40.785 115.464 40.439 c
115.095 40.091 114.535 39.891 113.795 39.891 c
111.757 39.891 111.488 41.133 111.488 42.903 c
111.488 44.45 111.713 45.772 113.795 45.772 c
115.924 45.772 116.16 44.393 116.105 42.578 c
113.08 42.578 l
f
118.85 45.088 m
118.873 45.088 l
119.186 45.593 119.612 45.772 120.205 45.772 c
120.767 45.772 121.213 45.502 121.471 45.055 c
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ET
1 0 0.24 0.38 k
414.115 659.223 20.231 -2.333 re
f
BT
5 0 0 5 420.9008 663.2225 Tm
/Cs7 cs 0 scn
(2.8 )Tj
ET
1 0 0.24 0.38 k
438.346 658.389 20.231 -1.5 re
f
BT
5 0 0 5 445.1315 662.3892 Tm
/Cs7 cs 0 scn
(1.8 )Tj
ET
1 0 0.24 0.38 k
462.577 657.889 20.231 -1 re
f
BT
5 0 0 5 469.3623 661.8892 Tm
/Cs7 cs 0 scn
(1.2 )Tj
ET
1 0 0.24 0.38 k
486.808 657.723 20.231 -0.833 re
f
BT
5 0 0 5 493.5931 661.7225 Tm
/Cs7 cs 0 scn
(1.0 )Tj
ET
1 0 0.24 0.38 k
511.038 657.056 20.231 -0.167 re
f
BT
5 0 0 5 517.8239 661.0559 Tm
/Cs7 cs 0 scn
(0.2 )Tj
ET
1 0 0.24 0.38 k
535.269 656.889 20.231 -39.583 re
f
BT
5 0 0 5 540.2502 611.3059 Tm
/Cs7 cs 0 scn
(-47.5 )Tj
ET
0 0 0 1 K
0 J 0 j 0.5 w 10 M []0 d
0.6 i
242.5 606.889 m
557.5 606.889 l
242.5 606.889 m
242.5 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 231.0588 575.6758 Tm
0 0 0 1 k
(Dlar australiano)Tj
ET
266.731 606.889 m
266.731 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 253.4101 573.7963 Tm
(Dlar neozelands)Tj
ET
290.962 606.889 m
290.962 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 281.8793 578.0347 Tm
(Forinto hngaro)Tj
ET
315.192 606.889 m
315.192 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 311.5279 583.4526 Tm
[(Y)55(en japons)]TJ
ET
339.423 606.889 m
339.423 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 329.8741 577.568 Tm
(Rupia indonesia)Tj
ET
363.654 606.889 m
363.654 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 357.8681 581.3312 Tm
(Corona sueca)Tj
ET
387.885 606.889 m
387.885 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 376.9186 576.151 Tm
(Peso colombiano)Tj
ET
412.115 606.889 m
412.115 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 408.451 583.4526 Tm
(Zloty polaco)Tj
ET
436.346 606.889 m
436.346 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 417.841 568.6118 Tm
(Dlar estadounidense)Tj
ET
460.577 606.889 m
460.577 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 452.1989 578.739 Tm
(Argentina Peso)Tj
ET
484.808 606.889 m
484.808 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 485.3775 587.6867 Tm
(Lira turca)Tj
ET
509.038 606.889 m
509.038 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 497.364 575.4424 Tm
(Rand sudafricano)Tj
ET
533.269 606.889 m
533.269 603.889 l
S
BT
4.2426 4.2426 -4.2426 4.2426 539.9612 593.8088 Tm
(Otros)Tj
ET
557.5 606.889 m
557.5 603.889 l
242.5 606.889 m
242.5 681.889 l
242.5 606.889 m
239.5 606.889 l
S
BT
6 0 0 6 226.508 606.3893 Tm
(-60.0)Tj
ET
242.5 615.223 m
239.5 615.223 l
S
BT
6 0 0 6 226.508 614.7225 Tm
(-50.0)Tj
ET
242.5 623.556 m
239.5 623.556 l
S
BT
6 0 0 6 226.508 623.0559 Tm
(-40.0)Tj
ET
242.5 631.889 m
239.5 631.889 l
S
BT
6 0 0 6 226.508 631.3892 Tm
(-30.0)Tj
ET
242.5 640.223 m
239.5 640.223 l
S
BT
6 0 0 6 226.508 639.7225 Tm
(-20.0)Tj
ET
242.5 648.556 m
239.5 648.556 l
S
BT
6 0 0 6 226.508 648.0559 Tm
(-10.0)Tj
ET
242.5 656.889 m
239.5 656.889 l
S
BT
6 0 0 6 230.841 656.3892 Tm
(0.0)Tj
ET
242.5 665.223 m
239.5 665.223 l
S
BT
6 0 0 6 228.176 664.7225 Tm
(10.0)Tj
ET
242.5 673.556 m
239.5 673.556 l
S
BT
6 0 0 6 228.176 673.0559 Tm
(20.0)Tj
ET
242.5 681.889 m
239.5 681.889 l
S
BT
6 0 0 6 228.176 681.3893 Tm
(30.0)Tj
ET
242.5 656.889 m
557.5 656.889 l
S
q
0.2 i
217.5 148.5 350 38.5 re
W n
BT
/F5 1 Tf
7.5 0 0 7.5 217.5 181.5 Tm
(C)Tj
ET
Q
BT
/F5 1 Tf
7.5 0 0 7.5 221.47 181.5 Tm
-0.0267 Tc
(onsulte el apartado de Informacin Adicional. Todos los datos de rentabilidad y de posiciones de cartera son actuales a )Tj
-0.5293 -1.2667 TD
(30.sep.2018. Las rentabilidades obtenidas en el pasado no garantizan los resultados futuros, que pueden variar. El valor de )Tj
T*
(las inversiones y de los ingresos derivados de las mismas ucta, y puede tanto caer como aumentar. Por consiguiente, el )Tj
T*
(capital invertido podra sufrir minusvalas.)Tj
ET
q
0.2 i
217.5 24.5 350 124 re
W n
BT
/F2 1 Tf
4 0 0 4 217.5 145.8 Tm
0 Tc
(\(1\))Tj
ET
Q
BT
/F2 1 Tf
7.5 0 0 7.5 221.052 143 Tm
0 Tc
(La cifra de gastos corrientes se basa en los gastos incurridos durante el ao previo. El Documento de informacin clave para e)Tj
45.752 0 TD
(l )Tj
-46.2256 -1.2667 TD
(inversor \(DFI/KIID\) proporciona informacin detallada a este respecto.)Tj
4 0 0 4 407.82 136.3 Tm
( \(2\))Tj
7.5 0 0 7.5 412.26 133.5 Tm
(Las comisiones sobre resultados se calculan con arreglo )Tj
-25.968 -1.2667 TD
(a la metodologa descrita en el folleto, aplicando una tasa del 10.00% del rendimiento neto que logre la clase de acciones por )Tj
T*
(encima del Overnight LIBOR. En el ltimo ejercicio nanciero del Fondo, la comisin sobre resultados fue del 0.00% del valor )Tj
T*
(liquidativo de la clase de acciones)Tj
4 0 0 4 312.015 107.8 Tm
( \(3\))Tj
7.5 0 0 7.5 316.455 105 Tm
(Las rentabilidades del fondo se proporcionan netas de comisiones regulares aplicables, con )Tj
-13.194 -1.2667 TD
(reinversin de dividendos segn el valor liquidativo ex dividendo. Estas rentabilidades se ofrecen a efectos de comparacin con)Tj
46.026 0 TD
( )Tj
-46.026 -1.2667 TD
(un ndice especicado. Dado que el inversor podra tener que pagar otras comisiones, cargas y gravmenes, su objetivo no es )Tj
T*
[(proporcionar una medida del rendimiento real para el inversor)70(. Los datos de rendimiento no tienen en cuenta las comisiones y )]TJ
T*
(costes incurridos por la emisin y reembolso de participaciones.)Tj
4 0 0 4 392.4075 69.8 Tm
( \(4\))Tj
7.5 0 0 7.5 396.8475 67 Tm
(El ndice LIBOR a 1 da en una media derivada de la cotizacin )Tj
-23.913 -1.2667 TD
(proporcionada por los bancos determinados por la Asociacin de Banqueros Britnicos \(BBA\). A diferencia del Fondo, el ndice se)Tj
46.528 0 TD
( )Tj
-46.528 -1.2667 TD
(muestra sin deduccin de gasto alguno.)Tj
4 0 0 4 326.595 50.8 Tm
( \(5\))Tj
7.5 0 0 7.5 331.035 48 Tm
(A 30 de septiembre de 2018, la volatilidad pronosticada del Fondo \(error de )Tj
-15.138 -1.2667 TD
(seguimiento previsto\) es del 1,70% anual, con las posiciones 1 y 3 contribuyendo respectivamente un 44,00% y un 81,70% a )Tj
T*
(dicha cifra.)Tj
ET
0 0 0 0 k
38.75 67.95 90 -36.2 re
f
0 0 0 1 k
0.2 i
83.354 58.153 m
83.331 58.153 l
82.558 54.657 l
84.171 54.657 l
h
80.092 51.62 m
82.333 59.711 l
84.564 59.711 l
86.758 51.62 l
84.978 51.62 l
84.529 53.414 l
82.221 53.414 l
81.762 51.62 l
f
88.833 53.436 m
88.822 53.177 88.833 52.931 88.911 52.752 c
89 52.574 89.168 52.484 89.482 52.484 c
89.796 52.484 90.064 52.685 90.064 53.065 c
90.064 54.264 87.287 53.995 87.287 55.799 c
87.287 57.021 88.496 57.392 89.516 57.392 c
90.592 57.392 91.566 56.875 91.477 55.654 c
89.93 55.654 l
89.93 56.047 89.887 56.283 89.773 56.383 c
89.673 56.483 89.539 56.505 89.371 56.505 c
89.024 56.505 88.833 56.283 88.833 55.901 c
88.833 55.005 91.611 55.049 91.611 53.233 c
91.611 52.246 90.805 51.51 89.492 51.51 c
88.115 51.51 87.195 51.855 87.287 53.436 c
88.833 53.436 l
f
94.087 53.436 m
94.076 53.177 94.087 52.931 94.166 52.752 c
94.254 52.574 94.425 52.484 94.737 52.484 c
95.051 52.484 95.32 52.685 95.32 53.065 c
95.32 54.264 92.54 53.995 92.54 55.799 c
92.54 57.021 93.75 57.392 94.772 57.392 c
95.846 57.392 96.821 56.875 96.733 55.654 c
95.187 55.654 l
95.187 56.047 95.142 56.283 95.026 56.383 c
94.928 56.483 94.793 56.505 94.626 56.505 c
94.277 56.505 94.087 56.283 94.087 55.901 c
94.087 55.005 96.866 55.049 96.866 53.233 c
96.866 52.246 96.059 51.51 94.748 51.51 c
93.369 51.51 92.452 51.855 92.54 53.436 c
94.087 53.436 l
f
100.777 55.084 m
100.777 55.632 100.798 56.415 100.047 56.415 c
99.32 56.415 99.331 55.564 99.331 55.084 c
h
99.331 54.197 m
99.331 53.524 99.352 52.518 100.047 52.518 c
100.607 52.518 100.719 53.055 100.719 53.524 c
102.322 53.524 l
102.3 52.909 102.099 52.405 101.718 52.058 c
101.347 51.709 100.788 51.51 100.047 51.51 c
98.008 51.51 97.74 52.752 97.74 54.523 c
97.74 56.068 97.964 57.392 100.047 57.392 c
102.175 57.392 102.412 56.013 102.355 54.197 c
99.331 54.197 l
f
103.117 57.278 m
103.757 57.278 l
103.757 58.175 l
105.336 58.881 l
105.336 57.278 l
106.154 57.278 l
106.154 56.304 l
105.336 56.304 l
105.336 53.279 l
105.336 52.851 105.324 52.574 105.84 52.574 c
105.942 52.574 106.042 52.574 106.12 52.595 c
106.12 51.62 l
105.908 51.599 105.684 51.565 105.304 51.565 c
103.935 51.565 103.757 52.47 103.757 52.819 c
103.757 56.304 l
103.117 56.304 l
103.117 57.278 l
f
80.093 40.002 m
80.093 48.092 l
82.817 48.092 l
84.083 42.59 l
84.105 42.59 l
85.449 48.092 l
88.083 48.092 l
88.083 40.002 l
86.436 40.002 l
86.436 46.242 l
86.412 46.242 l
84.856 40.002 l
83.242 40.002 l
81.763 46.242 l
81.74 46.242 l
81.74 40.002 l
f
90.704 41.761 m
90.704 41.357 90.771 40.865 91.285 40.865 c
92.217 40.865 92.071 42.118 92.071 42.735 c
91.285 42.701 90.704 42.77 90.704 41.761 c
93.618 41.054 m
93.618 40.706 93.663 40.349 93.696 40.002 c
92.227 40.002 l
92.159 40.751 l
92.137 40.751 l
91.801 40.169 91.344 39.891 90.659 39.891 c
89.561 39.891 89.157 40.706 89.157 41.693 c
89.157 43.564 90.601 43.642 92.071 43.62 c
92.071 44.057 l
92.071 44.538 92.003 44.887 91.432 44.887 c
90.884 44.887 90.838 44.472 90.838 44.023 c
89.292 44.023 l
89.292 44.707 89.504 45.144 89.874 45.401 c
90.232 45.672 90.749 45.772 91.353 45.772 c
93.359 45.772 93.618 44.91 93.618 43.877 c
93.618 41.054 l
f
96.451 45.088 m
96.474 45.088 l
96.632 45.346 96.821 45.514 97.033 45.614 c
97.26 45.727 97.516 45.772 97.807 45.772 c
98.556 45.772 99.22 45.322 99.22 44.538 c
99.22 40.002 l
97.64 40.002 l
97.64 43.9 l
97.64 44.403 97.549 44.797 97.046 44.797 c
96.541 44.797 96.451 44.403 96.451 43.9 c
96.451 40.002 l
94.871 40.002 l
94.871 45.66 l
96.451 45.66 l
96.451 45.088 l
f
101.795 41.761 m
101.795 41.357 101.862 40.865 102.379 40.865 c
103.309 40.865 103.164 42.118 103.164 42.735 c
102.379 42.701 101.795 42.77 101.795 41.761 c
104.709 41.054 m
104.709 40.706 104.754 40.349 104.789 40.002 c
103.318 40.002 l
103.253 40.751 l
103.231 40.751 l
102.896 40.169 102.436 39.891 101.753 39.891 c
100.652 39.891 100.25 40.706 100.25 41.693 c
100.25 43.564 101.695 43.642 103.164 43.62 c
103.164 44.057 l
103.164 44.538 103.097 44.887 102.525 44.887 c
101.975 44.887 101.931 44.472 101.931 44.023 c
100.386 44.023 l
100.386 44.707 100.598 45.144 100.967 45.401 c
101.326 45.672 101.841 45.772 102.446 45.772 c
104.453 45.772 104.709 44.91 104.709 43.877 c
104.709 41.054 l
f
108.061 41.054 m
108.63 41.054 108.708 41.648 108.708 42.848 c
108.708 44.091 108.653 44.797 108.072 44.797 c
107.476 44.797 107.374 44.382 107.374 42.657 c
107.374 42.129 107.296 41.054 108.061 41.054 c
110.29 45.66 m
110.29 39.765 l
110.29 39.374 110.311 37.826 108.136 37.826 c
106.959 37.826 105.953 38.131 105.919 39.509 c
107.465 39.509 l
107.465 39.274 107.499 39.072 107.599 38.938 c
107.702 38.791 107.881 38.713 108.126 38.713 c
108.519 38.713 108.708 39.082 108.708 39.655 c
108.708 40.741 l
108.687 40.741 l
108.453 40.303 108.003 40.08 107.488 40.08 c
105.751 40.08 105.83 41.67 105.83 42.949 c
105.83 44.192 105.852 45.772 107.499 45.772 c
108.061 45.772 108.54 45.525 108.765 44.997 c
108.787 44.997 l
108.787 45.66 l
110.29 45.66 l
f
114.523 43.464 m
114.523 44.012 114.546 44.797 113.795 44.797 c
113.067 44.797 113.08 43.944 113.08 43.464 c
h
113.08 42.578 m
113.08 41.904 113.101 40.898 113.795 40.898 c
114.356 40.898 114.468 41.435 114.468 41.904 c
116.071 41.904 l
116.048 41.288 115.846 40.785 115.464 40.439 c
115.095 40.091 114.535 39.891 113.795 39.891 c
111.757 39.891 111.488 41.133 111.488 42.903 c
111.488 44.45 111.713 45.772 113.795 45.772 c
115.924 45.772 116.16 44.393 116.105 42.578 c
113.08 42.578 l
f
118.85 45.088 m
118.873 45.088 l
119.186 45.593 119.612 45.772 120.205 45.772 c
120.767 45.772 121.213 45.502 121.471 45.055 c
121.842 45.546 122.29 45.772 122.938 45.772 c
123.69 45.772 124.351 45.322 124.351 44.538 c
124.351 40.002 l
122.771 40.002 l
122.771 43.9 l
122.771 44.403 122.682 44.797 122.176 44.797 c
121.674 44.797 121.584 44.403 121.584 43.9 c
121.584 40.002 l
120.039 40.002 l
120.039 43.9 l
120.039 44.403 119.948 44.797 119.444 44.797 c
118.94 44.797 118.85 44.403 118.85 43.9 c
118.85 40.002 l
117.271 40.002 l
117.271 45.66 l
118.85 45.66 l
118.85 45.088 l
f
128.441 43.464 m
128.441 44.012 128.462 44.797 127.712 44.797 c
126.983 44.797 126.994 43.944 126.994 43.464 c
h
126.994 42.578 m
126.994 41.904 127.016 40.898 127.712 40.898 c
128.272 40.898 128.384 41.435 128.384 41.904 c
129.986 41.904 l
129.965 41.288 129.762 40.785 129.381 40.439 c
129.011 40.091 128.453 39.891 127.712 39.891 c
125.673 39.891 125.405 41.133 125.405 42.903 c
125.405 44.45 125.628 45.772 127.712 45.772 c
129.84 45.772 130.076 44.393 130.02 42.578 c
126.994 42.578 l
f
132.777 45.088 m
132.798 45.088 l
132.955 45.346 133.146 45.514 133.359 45.614 c
133.582 45.727 133.842 45.772 134.131 45.772 c
134.882 45.772 135.544 45.322 135.544 44.538 c
135.544 40.002 l
133.963 40.002 l
133.963 43.9 l
133.963 44.403 133.875 44.797 133.37 44.797 c
132.867 44.797 132.777 44.403 132.777 43.9 c
132.777 40.002 l
131.197 40.002 l
131.197 45.66 l
132.777 45.66 l
132.777 45.088 l
f
q
27.594 27.518 111.827 41.827 re
W n
136.385 45.66 m
137.024 45.66 l
137.024 46.556 l
138.602 47.262 l
138.602 45.66 l
139.421 45.66 l
139.421 44.685 l
138.602 44.685 l
138.602 41.659 l
138.602 41.233 138.591 40.954 139.108 40.954 c
139.209 40.954 139.309 40.954 139.387 40.975 c
139.387 40.002 l
139.175 39.978 138.95 39.944 138.57 39.944 c
137.203 39.944 137.024 40.852 137.024 41.2 c
137.024 44.685 l
136.385 44.685 l
136.385 45.66 l
f
0.5 0.25 0 0.1 k
27.595 69.345 41.778 -41.827 re
f
Q
0 0 0 0 k
39.023 62.533 m
39.023 61.455 39.023 60.486 38.811 60.031 c
38.705 59.804 38.549 59.675 38.266 59.675 c
37.984 59.675 37.826 59.804 37.721 60.031 c
37.507 60.486 37.508 61.455 37.508 62.533 c
37.508 63.612 37.507 64.582 37.721 65.037 c
37.826 65.262 37.984 65.39 38.266 65.39 c
38.549 65.39 38.705 65.262 38.811 65.037 c
39.023 64.582 39.023 63.612 39.023 62.533 c
39.587 65.077 m
39.209 65.396 38.8 65.598 38.266 65.598 c
37.738 65.597 37.321 65.373 36.961 65.047 c
36.422 64.559 35.95 63.711 35.95 62.533 c
35.95 61.459 36.319 60.515 36.947 59.99 c
37.326 59.674 37.734 59.469 38.266 59.469 c
38.8 59.469 39.209 59.674 39.587 59.99 c
40.212 60.515 40.583 61.459 40.583 62.533 c
40.583 63.609 40.212 64.551 39.587 65.077 c
f
64.062 59.582 m
62.557 59.582 l
62.557 65.496 l
63.957 65.496 l
63.957 64.83 l
64.134 65.212 64.574 65.555 65.164 65.599 c
66.128 65.668 66.764 65.084 66.764 63.835 c
66.764 59.582 l
65.26 59.582 l
65.26 64.149 l
65.26 64.645 65.247 65.084 64.898 65.173 c
64.748 65.212 64.536 65.188 64.384 65.055 c
64.129 64.826 64.062 64.557 64.062 64.146 c
64.062 59.582 l
f
59.823 63.199 m
59.343 62.888 l
58.839 62.59 58.748 62.204 58.711 61.756 c
58.68 61.415 58.674 60.876 58.711 60.369 c
58.748 59.866 59.051 59.767 59.314 59.876 c
59.645 60.009 59.823 60.494 59.823 61.066 c
h
60.68 65.322 m
61.096 65.076 61.33 64.738 61.33 63.964 c
61.33 59.582 l
59.871 59.582 l
59.871 60.169 l
59.689 59.76 59.267 59.484 58.608 59.484 c
58.04 59.484 57.146 59.729 57.146 61.092 c
57.146 62.351 57.992 62.619 58.873 63.005 c
59.731 63.381 59.823 63.434 59.823 63.757 c
59.823 64.812 l
59.823 65.211 59.591 65.388 59.157 65.363 c
58.99 65.35 58.687 65.262 58.672 65.049 c
58.649 64.758 58.933 64.707 58.974 64.295 c
59.031 63.718 58.549 63.47 58.109 63.494 c
57.818 63.51 57.439 63.683 57.403 64.183 c
57.348 64.945 58.229 65.597 59.477 65.597 c
60.027 65.597 60.39 65.498 60.68 65.322 c
f
38.785 55.336 m
38.302 55.027 l
37.801 54.73 37.712 54.343 37.672 53.896 c
37.642 53.554 37.632 53.016 37.672 52.509 c
37.707 52.006 38.01 51.908 38.279 52.02 c
38.605 52.15 38.785 52.635 38.785 53.203 c
h
39.64 57.463 m
40.057 57.216 40.291 56.875 40.291 56.102 c
40.291 51.719 l
38.835 51.719 l
38.833 52.308 l
38.65 51.9 38.227 51.623 37.569 51.623 c
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(Goldman Sachs Global Currency Plus Portfolio)Tj
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/F5 1 Tf
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(Riesgo asociado a bonos convertibles contingentes \("CoCo"\))Tj
/F1 1 Tf
8 0 0 8 245.2655 728.8892 Tm
(: La inversin en este tipo concreto de bonos podra provocar prdidas importantes en la Cartera en )Tj
-25.9707 -1.3125 TD
(caso de concurrir determinados acontecimientos preestablecidas. La concurrencia de estos acontecimientos genera un tipo de ries)Tj
52.821 0 TD
(go diferente al de los bonos )Tj
-52.821 -1.3125 TD
(tradicionales y es ms susceptible de provocar una prdida parcial o total del valor; y, en caso de que los bonos se conviertan)Tj
50.373 0 TD
( en acciones de la empresa emisora, )Tj
-50.373 -1.3125 TD
(esta tambin podra haber sufrido una prdida de valor.)Tj
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/F5 1 Tf
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(Riesgo de contraparte)Tj
/F1 1 Tf
8 0 0 8 113.524 685.3892 Tm
(: la contraparte con la que la Cartera negocia una operacin puede incurrir en un incumplimiento de sus obligaciones, lo cual p)Tj
50.766 0 TD
(odra causar )Tj
-60.269 -1.3125 TD
(prdidas.)Tj
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/F5 1 Tf
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(Riesgo crediticio)Tj
/F1 1 Tf
8 0 0 8 96.5325 662.8892 Tm
(: el incumplimiento de las obligaciones de pago por parte del emisor o de la contraparte de un activo nanciero mantenido en la)Tj
50.988 0 TD
( Cartera )Tj
-58.3671 -1.3125 TD
(repercutir negativamente en los rendimientos ofrecidos por ella.)Tj
/F6 1 Tf
6 0 0 6 27.5 640.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 640.3892 Tm
0 0 0 1 k
(Riesgo de custodia)Tj
/F1 1 Tf
8 0 0 8 103.137 640.3892 Tm
(: la quiebra, los incumplimientos del deber de diligencia o una conducta indebida del depositario o subdepositario encargado de)Tj
51.099 0 TD
( la custodia de )Tj
-59.3036 -1.3125 TD
(los activos de la Cartera puede acarrear prdidas a la misma.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 617.8892 Tm
0 0 0 1 k
(Riesgo de derivados)Tj
/F1 1 Tf
8 0 0 8 107.3785 617.8892 Tm
(: los instrumentos derivados son enormemente sensibles a las variaciones del valor del activo subyacente en el que se basan. Al)Tj
51.316 0 TD
(gunos )Tj
-60.0508 -1.3125 TD
(derivados pueden conllevar prdidas superiores al importe invertido inicialmente.)Tj
/F6 1 Tf
6 0 0 6 27.5 595.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 595.3892 Tm
0 0 0 1 k
(Riesgo asociado a mercados emergentes)Tj
/F1 1 Tf
8 0 0 8 179.144 595.3892 Tm
(: los mercados emergentes son susceptibles de comportar un riesgo ms alto debido a la menor liquidez y a la posible )Tj
-17.7055 -1.3125 TD
(falta de estructuras nancieras, jurdicas, sociales, polticas y econmicas adecuadas, a su menor proteccin y estabilidad, as)Tj
50.596 0 TD
( como a posiciones scales inciertas.)Tj
/F6 1 Tf
6 0 0 6 27.5 572.8892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
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0 0 0 1 k
(Riesgo asociado a los tipos de cambio)Tj
/F1 1 Tf
8 0 0 8 169.709 572.8892 Tm
(: las variaciones de los tipos de cambio pueden reducir o incrementar las rentabilidades que cabra esperar que percibieran )Tj
-16.5261 -1.3125 TD
(los inversores con independencia del rendimiento de dichos activos. Las tcnicas de inversin que se empleen, en su caso, para )Tj
51.595 0 TD
(intentar mitigar el riesgo de las )Tj
-51.595 -1.3125 TD
(uctuaciones de divisas \(cobertura\) pueden no resultar ecaces. La cobertura tambin conlleva riesgos adicionales asociados a l)Tj
51.931 0 TD
(os derivados.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 539.8892 Tm
0 0 0 1 k
(Riesgo de tipos de inters)Tj
/F1 1 Tf
8 0 0 8 126.7415 539.8892 Tm
(: cuando los tipos de inters suben, los precios de los bonos bajan, lo que muestra la capacidad de los inversores para obtener)Tj
50.651 0 TD
( un tipo de )Tj
-61.8062 -1.3125 TD
(inters ms atractivo por su dinero en otra parte. Por lo tanto, los precios de los bonos estn expuestos a las uctuaciones de)Tj
50.264 0 TD
( los tipos de inters, que pueden variar )Tj
-50.264 -1.3125 TD
(por distintas razones, tanto polticas como econmicas.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 506.8892 Tm
0 0 0 1 k
(Riesgo de apalancamiento)Tj
/F1 1 Tf
8 0 0 8 129.113 506.8892 Tm
(: la Cartera puede operar con un importante grado de apalancamiento. El apalancamiento se produce cuando la exposicin econmic)Tj
53.379 0 TD
(a )Tj
-64.8306 -1.3125 TD
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52.488 0 TD
(ones en su valor y, por )Tj
-52.488 -1.3125 TD
(consiguiente, el apalancamiento conlleva un riesgo elevado, incluido el riesgo de prdidas importantes.)Tj
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/F5 1 Tf
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(Riesgo de liquidez)Tj
/F1 1 Tf
8 0 0 8 100.7825 473.8892 Tm
(: la Cartera no siempre podr encontrar a otra parte dispuesta a comprar un activo del cual desea desprenderse, lo que podra i)Tj
50.931 0 TD
(ncidir en la )Tj
-58.8413 -1.3125 TD
(capacidad de la Cartera para atender las solicitudes de reembolso presentadas.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 451.3892 Tm
0 0 0 1 k
(Riesgo de mercado)Tj
/F1 1 Tf
8 0 0 8 103.6045 451.3892 Tm
(: el valor de los activos mantenidos en la Cartera suele venir determinado por una serie de factores, entre ellos los niveles d)Tj
49.373 0 TD
(e conanza del )Tj
-57.636 -1.3125 TD
(mercado en que cotizan dichos activos.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 428.8892 Tm
0 0 0 1 k
(Riesgo operativo)Tj
/F1 1 Tf
8 0 0 8 95.5805 428.8892 Tm
(: la Cartera puede incurrir en prdidas sustanciales como consecuencia de un error humano, un fallo del sistema o del proceso, )Tj
51.208 0 TD
(o por el empleo de )Tj
-58.468 -1.3125 TD
(procedimientos o controles inadecuados.)Tj
/F6 1 Tf
6 0 0 6 27.5 406.3892 Tm
0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 406.3892 Tm
0 0 0 1 k
(Riesgo asociado a ttulos con garanta hipotecaria \(MBS\) y a ttulos con garanta de activos \(ABS\))Tj
/F1 1 Tf
8 0 0 8 389.7485 406.3892 Tm
(: los prstamos hipotecarios que garantizan MBS y los )Tj
-44.0311 -1.3125 TD
(activos que garantizan ABS puede que se amorticen ms pronto de lo requerido, lo que producira una merma de la rentabilidad.)Tj
/F5 1 Tf
8.5 0 0 8.5 27.5 173.3892 Tm
0.53 0.32 0.11 0 k
(Glosario)Tj
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/F5 1 Tf
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(Rentabilidad excedente)Tj
/F1 1 Tf
8 0 0 8 119.678 144.3892 Tm
( La rentabilidad generada por el fondo por encima de la de un ndice de referencia \(anualizada\).)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
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/F5 1 Tf
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/F1 1 Tf
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( Ilustra la dispersin de las rentabilidades mensuales del fondo respecto a la rentabilidad mensual media, e indica lo volti)Tj
49.541 0 TD
(l que )Tj
-64.0622 -1.3125 TD
(es la rentabilidad del fondo con el tiempo. Cuanto mayor sea esta cifra, ms voltiles son las rentabilidades del fondo.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
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/F5 1 Tf
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0 0 0 1 k
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/F1 1 Tf
8 0 0 8 94.6455 109.8892 Tm
( Representa los activos netos del fondo \(ex-dividendo\) divididos por el nmero total de acciones o participaciones emitidas p)Tj
50.543 0 TD
(or el fondo.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
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/F5 1 Tf
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/F1 1 Tf
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( La cifra de gastos corrientes se basa en los gastos incurridos por el fondo en los 12 meses previos \(es decir, en periodos m)Tj
50.037 0 TD
(viles de doce )Tj
-57.6498 -1.3125 TD
(meses\). Excluye costes de operacin y comisiones de rendimiento.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
()Tj
/F5 1 Tf
8.5 0 0 8.5 37.5 75.3892 Tm
0 0 0 1 k
(Otros gastos)Tj
/F1 1 Tf
8 0 0 8 80.459 75.3892 Tm
(: Cargos deducidos del patrimonio del Fondo incurridos en el marco de sus actividades, incluyendo si procede costes resultant)Tj
51.541 0 TD
(es de invertir en otros )Tj
-56.9109 -1.3125 TD
(fondos.)Tj
/F6 1 Tf
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0.53 0.32 0.11 0 k
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/F5 1 Tf
8.5 0 0 8.5 37.5 52.8892 Tm
0 0 0 1 k
(Ajuste por dilucin)Tj
/F1 1 Tf
8 0 0 8 103.137 52.8892 Tm
( \(swing pricing\) Describe los diferenciales de negociacin totales y otros gravmenes y cargos \(como por ejemplo comisiones d)Tj
51.818 0 TD
(e )Tj
-60.0226 -1.3125 TD
(intermediarios, timbres e impuestos\) que podran pagarse al entrar y salir del fondo, y trata de proteger a los inversores a la)Tj
49.317 0 TD
(rgo plazo ya presentes en el fondo. El )Tj
-49.317 -1.3125 TD
(precio mostrado se mide a n del ltimo trimestre y solamente indica el ajuste \(swing\) que podra aplicarse a nuevas suscripcio)Tj
50.929 0 TD
(nes/reembolsos.)Tj
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(Notas adicionales)Tj
8 0 0 8 27.5 761.8892 Tm
0 0 0 1 k
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(Este material es una promocin nanciera y ha sido emitido por Goldman Sachs International, entidad autorizada por la Autoridad)Tj
48.592 0 TD
( de Regulacin Prudencial \(PRA\) y regulada por la )Tj
-48.592 -1.3125 TD
(Autoridad de Conducta Financiera \(FCA\) y por la PRA \(los organismos de supervisin nanciera del Reino Unido\).)Tj
0 -1.375 TD
(De igual modo, esta informacin tampoco deber interpretarse como anlisis nanciero; tampoco se ha elaborado de acuerdo con la)Tj
49.98 0 TD
(s provisiones legislativas aplicables diseadas )Tj
-49.98 -1.3125 TD
(para fomentar la independencia del anlisis nanciero, ni est sujeto a prohibicin alguna de contratacin en bolsa tras la dis)Tj
47.035 0 TD
(tribucin de tal anlisis.)Tj
-47.035 -1.375 TD
(Esta informacin va dirigida exclusivamente al destinatario especicado y no podr reproducirse ni distribuirse, ya sea en part)Tj
47.365 0 TD
(e o en su totalidad, a ninguna persona sin la )Tj
-47.365 -1.3125 TD
(autorizacin previa y por escrito de GSI. Goldman Sachs International no asume responsabilidad alguna por el uso incorrecto o p)Tj
48.313 0 TD
(or la distribucin inapropiada del presente )Tj
-48.313 -1.3125 TD
(material.)Tj
/F5 1 Tf
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(Documentacin de oferta)Tj
/F1 1 Tf
9.647 0 TD
(: El presente material se le proporciona a efectos meramente informativos porque usted lo ha solicitado, y no constituye ningun)Tj
47.5899 0 TD
(a oferta o invitacin a )Tj
-57.2369 -1.3125 TD
(invertir en jurisdicciones donde tal invitacin sea ilegal, o a personas a quienes hacerlo resulte ilegal. Este material solame)Tj
45.976 0 TD
(nte contiene informacin seleccionada sobre el fondo, y )Tj
-45.976 -1.3125 TD
(no constituye ninguna oferta de compra de acciones o participaciones del mismo. Se recomienda al inversor que, antes de realiza)Tj
48.757 0 TD
(r cualquier inversin, lea detenidamente el )Tj
-48.757 -1.3125 TD
(Documento de Datos Fundamentales para el Inversor \(DFI o KIID\) y la documentacin ms reciente relativa al fondo, incluido, ent)Tj
48.37 0 TD
(re otros, el folleto informativo \(donde se )Tj
-48.37 -1.3125 TD
(especican todos los riesgos aplicables a una inversin en el mismo\). El inversor podr obtener gratuitamente los estatutos de )Tj
47.588 0 TD
(constitucin, el folleto informativo, los suplementos )Tj
-47.588 -1.3125 TD
(al mismo, el DFI y el informe anual o semestral ms reciente, dirigindose al agente de pago e informacin del fondo o a su ase)Tj
47.477 0 TD
(sor nanciero, y a travs de www.gsam.com/kiids.)Tj
/F5 1 Tf
-47.477 -1.375 TD
(Distribucin de acciones)Tj
/F1 1 Tf
9.566 0 TD
(: Las acciones o participaciones del fondo podran no estar registradas para su distribucin al pblico en ciertas jurisdiccion)Tj
46.5879 0 TD
(es \(como por ejemplo, en )Tj
-56.1539 -1.3125 TD
(cualquier pas latinoamericano, africano o asitico\). Por lo tanto, dichas acciones o participaciones del fondo no debern come)Tj
47.759 0 TD
(rcializarse u ofrecerse a residentes de tales )Tj
-47.759 -1.3125 TD
(jurisdicciones, a no ser que dicha actividad se realice de acuerdo con exenciones aplicables para la colocacin privada de inst)Tj
47.755 0 TD
(ituciones de inversin colectiva y con otras normas )Tj
-47.755 -1.3125 TD
(y regulaciones aplicables.)Tj
/F5 1 Tf
0 -1.375 TD
(Asesoramiento de inversin y prdida potencial)Tj
/F1 1 Tf
18.236 0 TD
(: En general, los asesores nancieros recomiendan diversicar las carteras de inversin. El fondo descrito en el presente )Tj
-18.236 -1.3125 TD
(documento no representa por s mismo una inversin diversicada. La presente informacin no debe interpretarse como asesoramien)Tj
50.31 0 TD
(to scal o de inversin. Los inversores )Tj
-50.31 -1.3125 TD
(potenciales debern consultar con su asesor nanciero y su asesor scal antes de invertir, a n de determinar la idoneidad de u)Tj
48.088 0 TD
(na inversin en el fondo.)Tj
/F5 1 Tf
-48.088 -1.375 TD
(Un inversor solamente debera invertir en el fondo si cuenta con sucientes recursos nancieros como para soportar la prdida c)Tj
49.204 0 TD
(ompleta de su inversin.)Tj
-49.204 -1.375 TD
(Ajuste por dilucin \(swing pricing\))Tj
/F1 1 Tf
13.236 0 TD
(: Tenga en cuenta que el fondo aplica una poltica de ajuste por dilucin \(swing pricing\) de su valor liquidativo. El inversor )Tj
45.5339 0 TD
(debe ser consciente )Tj
-58.7699 -1.3125 TD
(de que, de vez en cuando, esta metodologa podra hacer que el rendimiento del fondo se desve del de su ndice de referencia )Tj
48.091 0 TD
(nicamente por efecto del ajuste de dilucin, )Tj
-48.091 -1.3125 TD
(independientemente de la evolucin de precios de los instrumentos subyacentes.)Tj
0 -1.375 TD
(Por lo general, las comisiones se cargan y son pagaderas al n de cada trimestre y se basan en los valores medios de mercado a )Tj
48.641 0 TD
(n de cada mes durante el trimestre en cuestin.)Tj
-48.641 -1.375 TD
(Nuestro Formulario ADV, Parte II, incluye informacin adicional al respecto. Dicho formulario est disponible en http://www.adv)Tj
47.869 0 TD
(iserinfo.sec.gov/IAPD/Content/Search/)Tj
-47.869 -1.3125 TD
(iapd_Search.aspx.)Tj
/F5 1 Tf
0 -1.375 TD
(El inversor podr obtener gratuitamente los estatutos de constitucin, el folleto informativo, los suplementos al mismo y el do)Tj
47.541 0 TD
(cumento de datos fundamentales para el inversor )Tj
-47.541 -1.3125 TD
(\(DFI, o KIID, por sus siglas inglesas\) aplicables, as como el informe anual o semestral ms reciente, dirigindose al agente d)Tj
47.484 0 TD
(e pago e informacin que gura a continuacin:)Tj
-47.484 -1.375 TD
(Austria)Tj
/F1 1 Tf
2.769 0 TD
(: Raiffeisen Bank International AG, Am Stadtpark 9, A-1030 Viena.)Tj
/F5 1 Tf
-2.769 -1.375 TD
(Blgica)Tj
/F1 1 Tf
2.992 0 TD
(: RBC Investor Services, Place Rogier II, 1210 Bruselas.)Tj
/F5 1 Tf
-2.992 -1.375 TD
(Dinamarca)Tj
/F1 1 Tf
4.219 0 TD
(: Stockrate Asset Management, Mollevej 9 E2, DK-2990 Niva.)Tj
/F5 1 Tf
-4.219 -1.375 TD
(Francia)Tj
/F1 1 Tf
2.88 0 TD
(: RBC Investor Services Bank France, 105, rue Raumur, 75002 Pars.)Tj
/F5 1 Tf
-2.88 -1.375 TD
(Alemania)Tj
/F1 1 Tf
3.689 0 TD
(: State Street Bank GmbH, Brienner Strasse 59, 80333 Mnich.)Tj
/F5 1 Tf
-3.689 -1.375 TD
(Grecia)Tj
/F1 1 Tf
2.572 0 TD
(: Piraeus Bank S.A., 4 Amerikis Street, 10564 Atenas.)Tj
/F5 1 Tf
-2.572 -1.375 TD
(Irlanda)Tj
/F1 1 Tf
2.714 0 TD
(: RBC Investor Services Ireland Limited, George's Quay House, 43 Townsend Street, Dubln 2.)Tj
/F5 1 Tf
-2.714 -1.375 TD
(Italia)Tj
/F1 1 Tf
1.962 0 TD
(: Socit Gnrale Securities Services, Maciachini Center MAC 2, Via Benigno Crespi, 19/A, 20159 Miln; AllFunds Bank S.A. Fi)Tj
47.9759 0 TD
(liale di Milano, Via Santa Margherita 7, 20121 )Tj
-49.9379 -1.3125 TD
(Miln; RBC Investor Services Bank Milan Milan Branch, Cia Vittor Pisani, 26, 20154 Miln; State Street Bank S.pA., Via Col Mo)Tj
47.534 0 TD
(schin, 16 , 20136 Miln; BNP Paribas Securities )Tj
-47.534 -1.3125 TD
(Services Succursale di Milano, Via Ansperto 5, 20121 Miln; Banca Sella, Piazza Gaudenzio Sella 1, 13900 Biella Bl.)Tj
/F5 1 Tf
0 -1.375 TD
(Luxemburgo)Tj
/F1 1 Tf
4.749 0 TD
(: State Street Bank Luxembourg S.A., 49, avenue J.F. Kennedy, L-1855 Luxemburgo.)Tj
/F5 1 Tf
-4.749 -1.375 TD
(Suecia)Tj
/F1 1 Tf
2.684 0 TD
(: Skandinaviska Enskilda Banken AB, a travs de su entidad Global Transaction Services, SEB Merchant Banking, Sergels Torg 2, S)Tj
49.0879 0 TD
(T MH1, SE-106 40 Estocolmo.)Tj
/F5 1 Tf
-51.7719 -1.375 TD
(Suiza)Tj
/F1 1 Tf
2.098 0 TD
(: El representante suizo del fondo es First Independent Fund Services Ltd, Klausstrasse 33, 8008 Zurich. El agente de pagos del)Tj
47.032 0 TD
( fondo en Suiza es Goldman Sachs Bank AG, )Tj
-49.13 -1.3125 TD
(Claridenstrasse 25, 8022 Zurich. El Documento de Datos Fundamentales para el Inversor \(DFI o KIID\) y los informes anuales y sem)Tj
48.364 0 TD
(estrales del fondo se pueden obtener )Tj
-48.364 -1.3125 TD
(gratuitamente a travs del representante en Suiza o de Goldman Sachs Bank AG en Zurich.)Tj
0 -1.375 TD
(Los inversores ubicados en los pases que se mencionan a continuacin debern tener en cuenta la siguiente informacin adiciona)Tj
49.3119 0 TD
(l.)Tj
/F5 1 Tf
-49.3119 -1.375 TD
(Australia)Tj
/F1 1 Tf
3.497 0 TD
(: El presente material es distribuido en Australia y Nueva Zelanda por Goldman Sachs Asset Management & Partners Australia Pty )Tj
49.0899 0 TD
(Ltd ABN 41 006 099 681, AFSL 228948 )Tj
-52.5869 -1.3125 TD
(\(GSAMA\) y va dirigido exclusivamente a clientes mayoristas en Australia a efectos de la seccin 761G de la Ley de Sociedades de)Tj
48.754 0 TD
( 2001 \(Corporations Act 2001\) \(Cth\) y a clientes )Tj
-48.754 -1.3125 TD
(que pertenezcan a cualquiera o a todas las categoras de inversores detalladas en la seccin 3\(2\) o en la subseccin 5\(2CC\) de )Tj
47.757 0 TD
(la Ley de Valores de 1978 \(NZ\).)Tj
/F5 1 Tf
-47.757 -1.375 TD
(Hong Kong)Tj
/F1 1 Tf
4.164 0 TD
(: Este material ha sido emitido o aprobado para su uso en o desde Hong Kong por Goldman Sachs Asset Management \(Hong Kong\) Limi)Tj
50.7579 0 TD
(ted.)Tj
/F5 1 Tf
-54.9219 -1.375 TD
(Pases Bajos)Tj
/F1 1 Tf
4.977 0 TD
(: El fondo se incluye en el registro que mantiene la autoridad de servicios nancieros holandesa \(Stichting Autoriteit Financi)Tj
46.7019 0 TD
(le Markten, AFM\).)Tj
/F5 1 Tf
-51.6789 -1.375 TD
(Singapur)Tj
/F1 1 Tf
3.467 0 TD
(: Este material ha sido emitido o aprobado para su utilizacin en o desde Singapur por Goldman Sachs Asset Management \(Singapor)Tj
49.7029 0 TD
(e\) Pte. Ltd. \(N 201329851H\).)Tj
/F5 1 Tf
-53.1699 -1.375 TD
(Espaa)Tj
/F1 1 Tf
2.794 0 TD
(: El fondo es un OICVM extranjero registrado en la Comisin Nacional del Mercado de Valores \(CNMV\) con los nmeros 141 \(SICAV\),)Tj
49.6489 0 TD
( 913 \(SICAV II\) y 305 \(PLC\). La )Tj
-52.4429 -1.3125 TD
(descripcin completa del fondo, su correspondiente KIID y el resto de documentacin obligatoria se hallan disponibles gratuitam)Tj
48.3139 0 TD
(ente en cualquiera de los distribuidores )Tj
-48.3139 -1.3125 TD
(autorizados del Fondo que guran en el sitio web de la CNMV \(www.cnmv.es\).)Tj
0 -18.625 TD
( 2018 Goldman Sachs. Todos los derechos reservados.)Tj
0 -1.375 TD
(Registered and Principal Ofces:)Tj
/F5 1 Tf
12.309 0 TD
( Luxembourg domiciled Funds Registered Ofce:)Tj
/F1 1 Tf
18.428 0 TD
( c/o State Street Bank Luxembourg S.A., 49, Avenue J-F Kennedy L-1855, Luxembourg)Tj
0.53 0.32 0.11 0 k
-6.765 -2.1737 TD
0 Tc
(4)Tj
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