Popular’s Total Return Fund now registered with SEC
Financial institution Popular announced that the Popular Total Return Fund, managed by its subsidiary Popular Asset Management LLC, has been registered with the Securities and Exchange Commission under the Investment Companies Act of 1940.
This Fund is specifically designed to provide investors residing in Puerto Rico with investment alternatives typical of the traditional stock and fixed income markets, but with significant tax advantages, the Puerto Rico-based bank stated.
The Popular Total Return Fund is a balanced investment alternative that seeks to obtain capital growth, and generally invests between 60% and 80% of its assets in stocks. Such equity investments are primarily distributed among the high, mid, and small-cap markets in the United States.
To take advantage of global opportunities and obtain greater diversification, the Fund also invests in equities in international markets, both developed and emerging.
To balance risk and diversify, the Fund invests between 20% to 40% of its assets in the bond market, which tends to be more stable than stocks. This Fund has a track record of more than 20 years with positive results, the bank stated.
“Because it is organized in Puerto Rico, this Fund offers certain income tax and estate tax benefits to Puerto Rico residents. These advantages are generally not available in traditional investments, such as stocks, bonds, and U.S. mutual funds,” said Javier Rubio, president of Popular Asset Management.
Any individual resident of Puerto Rico may invest in this Fund, which has a minimum initial investment requirement of $3,000. Subsequent contributions can be from $50 and up.
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