In October 2016, the Control Committee of Pensions Caixa 30, F.P. established 7 investment beliefs with a dual objective:
- To guide the investment process of the Pension Fund.
- Enable effective decision-making by all the agents involved in the project (Control Committee, Sub-Committees, Management Entity and Consultants).
In addition, this document includes the sub-beliefs that served as the basis for the definition of each of the beliefs and that allow for a more concrete vision of the objective pursued with each of them.
- Good governance and effective decision-making lead to better results.
- It is important that the mission and objectives of the Plan and the Fund are clearly defined and understood.
- It is important that the roles and responsibilities of the Monitoring Committee, the Sub-Committees and those of the Management Entity are clearly defined.
- Better communication between the Supervisory Board and the members and beneficiaries will enable them to make better decisions in their retirement planning.
- The investment strategy is the main source of return and risk generation for the Pension Fund.
- There is a close relationship between the return and the risk of an investment.
- Risk will only be taken when it is adequately rewarded in the portfolio as a whole.
- Adequate diversification improves the Fund’s risk/return ratio.
- The Monitoring Committee will pay particular attention to the nature and likelihood of the occurrence of extreme events.
- The active and tactical management of the Pension Fund will be an additional source of profitability and risk.
- In financial markets that are less efficient, we will seek value through active management.
- The use of tactical management is a competitive advantage for the Fund.
- Investment decisions will be consistent with the Fund’s long-term time horizon.
- Long-term investors have a competitive advantage over short-term investors.
- Cost management should provide value to the Pension Fund.
- Costs will be managed efficiently.
- Costs will be considered in investment decisions.
- Extra-financial factors will be considered in the investment process.
- Consideration of environmental, social and governance factors in investments is important in generating long-term returns.
- The exclusion of certain investments is acceptable.
- The Monitoring Committee, in coordination with the Management Entity, will be active in engagement and dialogue processes.
- Regular monitoring and analysis of the performance of the Fund should focus on the achievement of all the objectives set.
- The monitoring of the performance of the Fund has to consider primarily the achievement of its own objectives and secondarily the performance of other Pension Funds.
- It is important to understand the Fund’s sources of return and risk.
- A robust monitoring framework includes quantitative and qualitative analysis.