Anlageziel BBVA Durbana International Fund Stable Opportunity Fund P USD Fonds

The Sub-Fund seeks to provide capital appreciation through a flexible investment approach focused on diversification and risk control, assuming a low to medium degree of risk by investing mainly in low risk assets. The annual volatility of the fund is not expected to rise above 5%. For this purpose, the Sub-Fund will invest its assets directly or indirectly a portfolio of fixed income securities, floating rate notes, high-yield bonds, emerging market bonds, mortgage backed securities and other asset-backed securities, convertible bonds, convertible notes, warrant-linked bonds and warrants on securities. The Sub-Fund may invest in equity securities to a minor extent. The Sub-Fund will seek exposure to absolute return, volatility, relative value and commodity strategies.