Financials Credit Fund X FI

Financials Credit Fund FI invests mainly in subordinated debt from banks and insurance companies, allocating between 20% and 95% of its portfolio to these instruments, including perpetual bonds and those that can convert to shares or have principal reductions if the issuer's solvency changes. It also dedicates up to 10% to liquid securitizations and up to 15% to equity resulting from any conversions of these bonds. The rest of the fund's investments are in other fixed income securities from the same financial institutions or in government debt, without limiting the credit quality of these investments.