Fontibrefondo FI is a global fund of funds that allocates more than half of its assets to a variety of other investment funds, which themselves invest in a mix of bonds, stocks, and money market instruments. The remaining investments are made directly in fixed income and equity securities, primarily from OECD countries with up to 25% in emerging markets. The equity portion includes major indices like STOXX 50, IBEX 35, MSCI World, S&P 500, and MSCI Emerging Markets, while the fixed income investments focus on European government bonds, global bonds with maturities of 1-5 years, and liquid money market instruments. This diversified approach aims to provide broad global exposure across different asset classes.