Institutional Management Mandates

Joint design of the investment policy best suited to the company’s return and risk requirements.

Definition of eligible investment assets: sovereign debt, corporate bonds, single-name securities, convertibles, subordinated instruments, Tier 1, securitisations, supranationals, emerging markets, derivatives, and ETFs used as hedging instruments, among others.

Establishment of compliance limits: portfolio average rating, maximum and minimum exposure by asset groups, concentration limits, etc.

Parameterisation of risk levels and portfolio duration.

Definition of key risk factors: long-term investments, tactical allocation, FRNs, thematic opportunities, securitisations, interest rate hedges, liquidity ratios, etc.

Identification of assets that best meet the defined factors.

Comprehensive return/risk attribution analysis by portfolio segments.

Assessment of market liquidity conditions prior to implementation.

Multi-layer diversification, by risk factors and within asset classes.

Optimisation of overlays to mitigate risks in the portfolio’s core allocation.

There is an increasing awareness of the need for investments to meet, in addition to financial criteria, corporate governance parameters.

At Miraltabank, we establish and monitor portfolio sustainability scores based on objective criteria, considering both internal and third-party ratings.

Additionally, we apply exclusion criteria that rule out countries subject to sanctions or included on high-risk lists (such as the FATF list), as well as counterparties involved in sectors with a high social or environmental impact. These include, among others, coal mining and power generation, Arctic resource exploitation, and tobacco production.