{"id":8456,"date":"2022-05-13T07:56:39","date_gmt":"2022-05-13T07:56:39","guid":{"rendered":"https:\/\/gpmsv.com\/gestionpatrimonios\/?p=8456"},"modified":"2023-02-02T11:53:51","modified_gmt":"2023-02-02T11:53:51","slug":"all-seasons-momentum","status":"publish","type":"post","link":"https:\/\/gpmsv.com\/gestionpatrimonios\/all-seasons-momentum\/","title":{"rendered":"ALL SEASONS MOMENTUM"},"content":{"rendered":"

[vc_row][vc_column][vc_row_inner][vc_column_inner width=\u00bb1\/2″][vc_single_image image=\u00bb8330″ img_size=\u00bblarge\u00bb alignment=\u00bbcenter\u00bb][\/vc_column_inner][vc_column_inner width=\u00bb1\/2″][vc_column_text]<\/p>\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n\n\n\n
Tipo de inversi\u00f3n<\/b><\/td>\nGesti\u00f3n Sistem\u00e1tica de Carteras<\/td>\n<\/tr>\n
Tipo de gesti\u00f3n<\/strong><\/td>\nGesti\u00f3n Alternativa Global Macro Sistem\u00e1tica<\/td>\n<\/tr>\n
Categor\u00eda<\/b><\/td>\nETF sobre \u00cdndices y bonos<\/td>\n<\/tr>\n
Mandato de Gesti\u00f3n<\/strong><\/td>\nGesti\u00f3n de Patrimonios Mobiliarios SV SA<\/td>\n<\/tr>\n
Depositario de efectivo<\/strong><\/td>\nInteractive Brokers<\/td>\n<\/tr>\n
Depositario de valores<\/strong><\/td>\nInteractive Brokers<\/td>\n<\/tr>\n
Inversi\u00f3n m\u00ednima<\/strong><\/td>\n10.000 \u20ac<\/td>\n<\/tr>\n
Comisi\u00f3n de gesti\u00f3n\u00a0anual<\/b><\/td>\n1,35 %<\/td>\n<\/tr>\n
Comisi\u00f3n de revalorizaci\u00f3n<\/strong><\/td>\n9,00 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Usted no tiene permiso para ver este formulario.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row full_width=\u00bbstretch_row_content\u00bb css=\u00bb.vc_custom_1645011226347{padding-right: 15% !important;padding-left: 15% !important;}\u00bb][vc_column][vc_tta_tabs shape=\u00bbsquare\u00bb active_section=\u00bb1″][vc_tta_section title=\u00bbM\u00c1S INFORMACI\u00d3N\u00bb tab_id=\u00bb1645009859672-458db431-39c9″][vc_row_inner][vc_column_inner width=\u00bb2\/6″][vc_column_text]<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
L\u00edmites m\u00e1ximos y restricciones<\/strong><\/th>\n<\/tr>\n<\/thead>\n
Exposici\u00f3n por activo (m\u00e1ximo)<\/strong><\/td>\n100% si son
\nETF Bonos
\nSoberanos o
\nAcciones.40 %,
\nsi no es
\nanterior.<\/td>\n<\/tr>\n
Exposici\u00f3n Divisa no Euro<\/strong><\/td>\nNO<\/td>\n<\/tr>\n
Volatilidad anualizada(maximo)<\/strong><\/td>\n25 %<\/td>\n<\/tr>\n
Derivados<\/strong><\/td>\nNO<\/td>\n<\/tr>\n
Apalancamiento<\/strong><\/td>\nSi, el que permita IB<\/td>\n<\/tr>\n
Posiciones bajistas<\/strong><\/td>\nNO<\/td>\n<\/tr>\n<\/tbody>\n
Rentabilidad – Riesgo Anual Esperado<\/strong<\/strong><\/th>\n<\/tr>\n<\/thead>\n
Rentabilidad esperada<\/strong><\/td>\n+12,50 %<\/td>\n<\/tr>\n
M\u00e1ximo Drawdown esperado<\/strong><\/td>\n-22,00 %<\/td>\n<\/tr>\n
Volatilidad anualizada esperada<\/strong><\/td>\n25 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n
Productos utilizados <\/strong><\/th>\n<\/tr>\n<\/thead>\n
Productos no complejos<\/strong><\/td>\nSI (ETFs
\ncomercializados a
\nminoristas)<\/td>\n<\/tr>\n
Productos complejos<\/strong><\/td>\nSI<\/td>\n<\/tr>\n<\/tbody>\n
Perfil de Riesgo<\/strong><\/th>\n<\/tr>\n<\/thead>\n
Arriesgado<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][\/vc_column_inner][vc_column_inner width=\u00bb4\/6″][vc_column_text]<\/p>\n

Descripci\u00f3n de la Estrategia<\/h2>\n

El objetivo del modelo ALL SEASONS MOMENTUM es la revalorizaci\u00f3n del capital a medio y largo plazo realizando inversiones en renta variable y renta fija (soberana y corporativa) de EE.UU. as\u00ed como inversiones en oro, mediante la utilizaci\u00f3n de ETFs cubiertos de riesgo divisa.<\/p>\n

El horizonte de inversi\u00f3n m\u00ednimo recomendado es de 4 a\u00f1os, siendo \u00f3ptima una inversi\u00f3n de al menos 7 a\u00f1os. El modelo combina dos principios fundamentales, (i) una gran diversificaci\u00f3n entre activos de renta variable, renta fija y oro, (ii) junto con un filtro tendencial (absolute momentum + relative momentum) que modula de forma din\u00e1mica y sistem\u00e1tica la exposici\u00f3n final de la cartera diversificada.<\/p>\n

De esta manera, la m\u00e1xima exposici\u00f3n que la cartera puede alcanzar en su versi\u00f3n no apalancada es de un 100% en \u00edndices o sectores sobre renta variable, de un\u00a0 20% en oro, de un 40% en renta fija corporativa y municipal y de hasta un 100% en renta fija soberana. La exposici\u00f3n m\u00ednima puede ser del 0% en todos los activos.<\/p>\n

El modelo trata de capturar la prima de riesgo en el largo plazo de los activos de inversi\u00f3n en los que invierte, as\u00ed como la defensa de esas rentabilidades mediante la utilizaci\u00f3n de rebalanceos y una gesti\u00f3n din\u00e1mica y sistem\u00e1tica de la cartera, haciendo posible el reducir las p\u00e9rdidas y, en ocasiones, obtener beneficios en los ciclos bajistas de la renta variable, ofreciendo una elevada descorrelaci\u00f3n con los \u00edndices burs\u00e1tiles.<\/p>\n

La toma de decisiones se produce de forma sistem\u00e1tica o algor\u00edtmica una vez al mes, decidiendo en qu\u00e9 tipo de activos invertir o desinvertir, con qu\u00e9 ponderaci\u00f3n y cu\u00e1ndo, seg\u00fan las reglas predefinidas en el modelo. De igual manera, la decisi\u00f3n de utilizar el apalancamiento de cuenta se toma seg\u00fan reglas predefinidas.<\/p>\n

La cobertura del riesgo divisa es provisto directamente por los emisores de los ETFs o mediante el uso de instrumentos financieros . La gesti\u00f3n del modelo puede utilizar un apalancamiento de cuenta provisto por Interactive Brokers m\u00e1ximo de hasta 2 veces el patrimonio invertido.<\/p>\n

El modelo All Seasons Momentum se engloba dentro de la categor\u00eda Global Macro Sistem\u00e1tica teniendo una rentabilidad anual esperada a largo plazo del 12,50%, con una volatilidad anualizada del 25% y una m\u00e1xima p\u00e9rdida esperada del -22%, todo en datos mensuales.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][vc_tta_section title=\u00bbRENTABILIDADES\u00bb tab_id=\u00bb1645009859673-c1b01d0b-3ce0″][vc_row_inner][vc_column_inner][vc_column_text] <\/p>\n\n\n\n\n\n
<\/th>\n2017<\/th>\n2018<\/th>\n2019<\/th>\n2020<\/th>\n2021<\/th>\n2022<\/th>\n<\/tr>\n<\/thead>\n
Rentabilidad total a
\n30\/01\/2023<\/th>\n		–<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n-2,91%<\/td>\n-27,66%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/p>\n\n\n\n\n\n
<\/th>\nEne<\/th>\nFeb<\/th>\nMar<\/th>\nAbr<\/th>\nMay<\/th>\nJun<\/th>\nJul<\/th>\nAgo<\/th>\nSep<\/th>\nOct<\/th>\nNov<\/th>\nDic<\/th>\n<\/tr>\n<\/thead>\n
Rentabilidad total del a\u00f1o 2022<\/th>\n-8,74%<\/td>\n-2,40%<\/td>\n-4,35%<\/td>\n-6,20%<\/td>\n-0,95%<\/td>\n-1,62%<\/td>\n2,80%<\/td>\n-3,85%<\/td>\n-1,15%<\/td>\n-0,05%<\/td>\n-0,91%<\/td>\n-4,00%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n
<\/th>\nEne<\/th>\nFeb<\/th>\nMar<\/th>\nAbr<\/th>\nMay<\/th>\nJun<\/th>\nJul<\/th>\nAgo<\/th>\nSep<\/th>\nOct<\/th>\nNov<\/th>\nDic<\/th>\n<\/tr>\n<\/thead>\n
Rentabilidad total del a\u00f1o 2021<\/th>\n–<\/td>\n–<\/td>\n–<\/td>\n-0.11%<\/td>\n0.67%<\/td>\n-3.46%<\/td>\n1.50%<\/td>\n0.90%<\/td>\n-6.83%<\/td>\n2.59%<\/td>\n1.09%<\/td>\n1.10%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_tta_section][\/vc_tta_tabs][\/vc_column][\/vc_row][vc_row][vc_column width=\u00bb1\/2″][\/vc_column][vc_column width=\u00bb1\/2″][\/vc_column][\/vc_row]<\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][vc_row_inner][vc_column_inner width=\u00bb1\/2″][vc_single_image image=\u00bb8330″ img_size=\u00bblarge\u00bb alignment=\u00bbcenter\u00bb][\/vc_column_inner][vc_column_inner width=\u00bb1\/2″][vc_column_text] Tipo de inversi\u00f3n Gesti\u00f3n Sistem\u00e1tica de Carteras Tipo de gesti\u00f3n Gesti\u00f3n Alternativa Global Macro Sistem\u00e1tica Categor\u00eda ETF sobre \u00cdndices y bonos Mandato de Gesti\u00f3n Gesti\u00f3n de Patrimonios Mobiliarios SV SA Depositario de efectivo Interactive Brokers Depositario de valores Interactive Brokers Inversi\u00f3n m\u00ednima 10.000 \u20ac Comisi\u00f3n de gesti\u00f3n\u00a0anual 1,35 % […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[],"featured_image_src":{"landsacpe":false,"list":false,"medium":false,"full":false},"yoast_head":"\nALL SEASONS MOMENTUM - GESTION PATRIMONIOS<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ALL SEASONS MOMENTUM - 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