ACHERFOR INVERSIONES, SICAV S.A.

The fund aims to achieve long-term capital appreciation through its investment strategy.

The fund has the flexibility to invest in a wide range of asset classes, including equities, fixed income, and other permitted assets. There are no predetermined limits on exposure to specific asset classes, sectors, geographies, or investment styles. The fund may also invest in emerging markets and has the ability to have 100% exposure to currency risk.

Investors should be aware that the fund may invest more than 35% of its assets in securities issued or guaranteed by EU member states, local authorities, international organizations of which Spain is a member, and states with creditworthiness not lower than that of Spain. Additionally, the fund may invest up to 10% of its assets in assets that may introduce higher risk due to factors such as liquidity, issuer type, or investor protection.

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