SICAV

A SICAV invests in the funds, assets or rights of its shareholders.

  • 2 Tax advantages.
  • 2 Financial advantages.

What is a SICAV?

  • A SICAV (investment company with variable capital) is a Collective Investment Institution (CII) and public limited company whose purpose is to invest the funds, assets or rights of its shareholders to optimize their yields.

Features

  • Investing through a SICAV has the following advantages:
    Daily liquidity
    The SICAVs are listed on the MAB (Alternative Stock Market) and provide daily liquidity, based on their net asset value. Shareholders can recover their investment by selling their shares to the SICAV itself, which is required to purchase them (provided that the capital does not fall below the legal minimum).
    Taxation
    They have a corporate tax rate of 1%. Moreover, they are supervised by the CNMV (Spanish National Securities Market Commission), which guarantees strict compliance with regulations and complete transparency for shareholders.
    Control

    As a limited public company, its investors are shareholders, whose voting rights at the AGM allow them to:

    • Determine/amend the investment policy of the SICAV.
    • Replace the Management Company and/or the Depository, without the need to divest.
    • Delegate part of the management to other entities.
    • Appoint outside advisers or be part of the Board of Directors of the SICAV to more closely monitor its operation.
    Transparency
    Through periodic meetings of the Board of Directors and the AGM. In addition to providing regular public information: quarterly and half-yearly reports, brochure and annual accounts.

SICAVs are managed flexibly and professionally by BBVA AM S.G.I.I.C to implement BBVA's market vision. We actively seek investment opportunities and tailor them to the customer's profile.

See our most recent SICAV Reports.