IPE magazine September 2022
In the September the magazine Investments & Pensions Europe, an article has been published in which several European funds are asked how they are coping with the environment of uncertainty that has characterized financial markets for some time. Among those interviewed is Nacho Hernández Valiñani, president of the PC30, who comments on how the Pension Fund is dealing with the current situation. Private assets have been, in recent years, the differential factor of the fund when it comes to explaining its profitability. The low rates of public debt led the fund to reduce its exposure to these assets and increase investment in real assets that would allow, to a certain extent, to protect the fund from possible spikes in inflation. The coming years, the rise in interest rates will allow sovereign bonds to resume their role as safe-haven assets and this change will be reflected in the next mandates. On the other hand, the foreseeable volatility that financial assets will present in the coming months must be addressed through strategies that allow reducing the impact of sudden market movements. In any case, from the PC30 they remember that the temporary focus of the fund, the long term, is the best tool in these turbulent times.
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