Funds selected by Quality Funds

• Amundi EURO Liquidity-rated SRI (03/12/2024) - The fund invests in short-term, high credit quality bonds issued by public and private entities. The instruments included in the portfolio are carefully selected, analyzing the issuer's credit quality and the liquidity offered by the instruments.
• AXA World Funds - Robotech (03/12/2024) - Equity fund that invests in technology. It looks for companies worldwide that contribute to and benefit from the robotics value chain. The portfolio invests almost exclusively in technology, industry and health.
• Blackrock BGF - Global Allocation Fund (03/12/2024) - The fund combines investment in equity and fixed-income assets. It aims to generate returns through the selection of companies, with a diversified portfolio at country, sector and industry level. It usually maintains the equities level at around 60%, and 40% in fixed-income, including liquidity.
• Blackrock Strategic Funds - Blackrock Systematic US Equity Absolute Return Fund (03/12/2024) - Absolute Return Fund with a systematic management approach and a strong focus on innovation, data and technology, including new data processing techniques like "big data" to exploit inefficiencies in company valuations. It invests by taking long and short positions in US equities, diversifying in terms of style, market capitalization and time horizon, with a neutral exposure to the market.
• Candriam Equities L - Oncology Impact (03/12/2024) - Invests in companies worldwide in the health sector related to the entire cancer treatment value chain. It is divided into 4 areas: i) research and diagnosis; ii) pharmacy and biotechnology; iii) medical technology; and iv) big data and artificial intelligence. It donates 10% of the management fee to cancer research projects in the countries where subscriptions are made.
• Cif - Capital Group EM Local Curr. DEBT Fund (lux) (03/12/2024) - Fund that invests in emerging debt issues, mainly focused on government bonds in local currency. It has flexibility to diversify into other emerging areas, such as corporate debt in local currency, or emerging issues in hard currency.
• Columbia Threadneedle (lux) I - Ct (lux) European Social Bond (03/12/2024) - The fund invests primarily in bonds with a high credit rating from corporate issuers, as well as quasi-sovereign bonds, governments or non-profits. These positions are predominantly focused on Europe.
• DWS INVEST - ESG Equity Income (03/12/2024) - Invests in equities worldwide, mainly in developed markets with a high and sustainable dividend yield, excluding those that do not meet Environment, Social and Governance (ESG) requirements.
• FF - Global Technology Fund (03/12/2024) - Equity fund that invests in technology. Its investment universe is made up of companies listed worldwide dedicated to the development of products, processes or services that involve future advances or improvements in technology. It invests mainly in developed countries, although it can also do so in emerging countries. It focuses more on valuations than other comparable funds, to avoid buying very expensive shares.
• Goldman Sachs Funds III - Goldman Sachs Green Bond Short Duration (03/12/2024) - The fund invests in corporate and government fixed-income issues and money market instruments that aim to finance projects with a positive environmental impact and a high credit quality.
• Jpmorgan Investment Funds - Europe Select Equity Fund (03/12/2024) - Equity fund that invests in the shares of large and medium-sized companies in the Pan-European region. The managers and analysts work together to build an active management fund without style bias and with slight deviations by country and sector compared to the benchmark index.
• Jpm Funds - EURO Government Short Duration Bond Fund (03/12/2024) - The fund invests in short-term debt securities denominated in euros mainly issued or guaranteed by euro zone governments, including local governments and agencies that are guaranteed by these governments. It focuses on high credit quality securities. It can also invest up to 20% of the fund in supranational bodies related to the euro zone.
• Franklin Templeton Global Funds PLC - Ftgf Clearbridge US Eq. Sustainab. Leaders (03/12/2024) - Invests in US shares. It focuses on leading companies in sustainability in each industry or sector. To do this, it relies on the internal ESG rating issued by the manager's financial analysts. It also excludes areas including fossil fuels, resulting in zero exposure to energy.
• M&G (lux) If1 - M&G (lux) Optimal Income Fund (03/12/2024) - It is a fund with flexibility to explore all opportunities in the fixed-income markets, and to a limited extent, equities (typically 5%). The fund management team selects investments taking into account a combination of factors at macroeconomic, sector and issuer level, and each issue specifically.
• Morgan Stanley Investment Funds - Global Brands Fund (03/12/2024) - This is an Equity fund that invests in companies from developed countries known for stable growth in their margins and profits, with intangible assets that are difficult to replicate, low leverage, and with a broad product range and geographic diversification. All these characteristics make the basic consumer sector the main sector in which it invests, although other sectors such as technology and health are also present. It is usually more notable in downturns compared to the index.
• Morgan Stanley Investment Funds - EURO Corporate Bond Fund (03/12/2024) - It is a European credit fund that invests in investment grade company bonds (high credit quality). It is geared towards identifying undervalued securities that offer a higher return than the risk assumed.
• Pictet - Quest Europe Sustainable Equities (03/12/2024) - European Equities Fund with a sustainable focus. It invests in the shares of large pan-European companies that apply the principles of sustainable development and that have a positive economic, social and environmental impact (ESG).
• Pictet - Short-term Money Market EUR (03/12/2024) - The fund invests in short-term, high credit quality bonds and money market instruments denominated in euros. It must comply with some diversification principles; a minimum of 10% must be invested in government bonds, the minimum rating for investing in a geographical area is AA-, the maximum exposure to an issuer is 10%, the maximum exposure by credit quality is 2% for A rating, 3% for AA rating and 4% for AAA rating.
• PIMCO Funds: Global Inv. Series PLC - Emerging Markets Bond (03/12/2024) - Fund that aims to maximize total returns, through investment in a diversified portfolio of bonds issued by emerging countries in strong currencies, mainly dollars. It focuses on sovereign debt, although it can invest in quasi-sovereign and corporate bonds. It can take positions outside the index, both at country and instrument level.
• Robeco Cgf - Robeco Global Consumer TRENDS (03/12/2024) - A fund that invests in Equities in new consumer trends: emerging middle class, digital consumer transformation and health and well-being.
• Robeco Cgf - QI Global Developed Sust. Enhanced Index Eq. (03/12/2024) - It invests in global equities with special emphasis on environmental, social and governance (ESG) criteria. With regards to sustainability: its investments exclude companies in industries such as weapons and tobacco and companies that contribute negatively to the SDGs. It offers returns aligned with the index by focusing on minimizing risk compared to the benchmark.
• Schroder ISF - Global Cities (03/12/2024) - A fund that invests in the liquid and listed part of the global real estate sector. It aligns all its investments with UN Sustainable Development Goal 11 and selects the most sustainable global real estate companies for the portfolio.

NOTE: The CIIs managed by Blackrock INC. together they have a joint shareholding that exceeds 5% of the total share capital issued by BBVA S.A.

• Blackrock Sustainable Fixed Income Strategies (05/16/2024) - The Blackrock fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
  
• Blackrock BGF - World Gold Fund (03/12/2024) - The Blackrock fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• Blackrock BGF - World Healthscience (03/12/2024) - The Blackrock fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• DWS INVEST - Top Dividend (03/12/2024) - The DWS fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• FF - European Larger Companies Fund (03/12/2024) - The Fidelity fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• GAM Multibond - Local Emerging Bond (03/12/2024) - We are replacing it due to significant changes in the corporate and financial situation of the parent company GAM Holding.
• Goldman Sachs F. SICAV - Global Millennials Equity Portfolio (03/12/2024) - The Goldman Sachs fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• Goldman Sachs Funds III - Goldman Sachs Green Bond (03/12/2024) - The Goldman Sachs fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• Invesco Funds SICAV - Japanese Equity Advantage Fund (03/12/2024) - The Invesco fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• MFS Meridian Funds - Global Equity (03/12/2024) - The MFS fund continues to be a good fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• Morgan Stanley Investment Funds - Global Sustain Fund (03/12/2024) - The Morgan Stanley fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• Nordea 1 - European Covered Bond Fund (03/12/2024) - The Nordea fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• PIMCO Funds: Global Inv. Series PLC - Emerging Mar. Bond ESG (03/12/2024) - The Pimco fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• Polar Capital Funds PLC - Global Technology (03/12/2024) - The Polar fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.
• Schroder ISF - Global Energy Transition (03/12/2024) - The Schroders fund continues to be an outstanding fund; however, within this selection, we chose to replace it with another fund that better diversifies the products available.