Ukukhathazeka ngomhlalaphansi sekuphinde kwaba phambili empikiswaneni, futhi izinhlelo zomhlalaphansi ziya ngokuya zithandwa njengendlela yokwengeza izimpesheni zikahulumeni . Uhla lwemikhiqizo lubanzi, luhlanganisa konke kusukela kumaphrofayili alondolozayo kakhulu kuya ezinkethweni ezinolaka, ngakho-ke ukubheka nje inani lembuyiselo akwanele: iphrofayili yengozi, indawo yokutshalwa kwezimali, kanye nezimali konke kuyizinto ezibalulekile . Funda ngezinhlobo ezahlukene zezinhlelo zomhlalaphansi ukuze wenze isinqumo esingcono kakhulu.
Uma ukhetha, kubalulekile ukucabangela inqubomgomo yokutshalwa kwezimali (amasheya, imali engenayo exubile, noma engaguquki), ulwazi lwethimba labaphathi, nokuthi ukude kangakanani nomhlalaphansi. Njengoba kunesikhathi eside, ngokuvamile kunengqondo ukwamukela ukuguquguquka okwengeziwe; ngemva kokuphakama kweminikelo, abantu abaningi abalondolozayo bashintshela ezinkethweni ezizinzile. Kubalulekile futhi ukukhumbula ukuthi izimali zithinta ngqo imbuyiselo ehlanzekile.
Imali engenayo exubile
Izimali ezixubile ezixhumene nezabelo sezibe yindlela ethandwa kakhulu emakethe: zinabalondolozi ababalelwa ezigidini ezingu-2,5 , cishe ama-euro ayizigidigidi ezingu-30.706 , futhi zakha izinhlelo ezingaphezu kwamakhulu amabili. Ngonyaka odlule, imbuyiselo emaphakathi ibicishe ibe ngu -3,92% , kanti imikhiqizo engaphezu kwengxenye idlula leso sibalo.
Ngaphakathi kwalesi sigaba, i-Avantage Fund (Renta 4) ivelele, ngenzuzo ecishe ibe ngu- 14,46% ezinyangeni ezingu-12 kanye nokugxila emhlabeni jikelele. Izimali zayo zifaka phakathi amabhondi ase-Argentina ka-2041 (cishe u-9,65%) , isabelo ku -Renta 4 Banco (cishe u-4,64%) , kanye nokudalulwa okuphawulekayo ku- Tesla (cishe u-3,91%) kanye ne -Prosegur (cishe u-3,42%) . Imali iyonke yokuphatha kanye nokugcinwa kwezimali ingu -1,4% . Yisikhwama samuva nje, ngakho-ke asinalo irekhodi eliphelele lesikhathi esiphakathi neside.
Okunye okuphawulekayo yi-GVC Gaesco Capitalization Plan, enenzuzo elinganiselwa ku- 12,17% ezinyangeni eziyi-12 , 10,07% eminyakeni emithathu , kanye cishe no- 7,95% eminyakeni emihlanu . Ngaphakathi kwephothifoliyo, izimpahla ezinkulu kakhulu yiGrifols kanye ne-CAF (cishe u-5,66% kanye no-5,56% ngokulandelana), kulandelwe yiVidrala kanye neViscofán , ngaphezu kwezibopho ezikhishwe yiFidelidade kanye neSacyr . Ikhomishini iyonke (ukuphathwa kanye nokugcinwa) ifinyelela ku- 1,5%.
Imali engenayo engaguquki ehlanganisiwe
Ezimalini ezixubile ezibuswa yimali engenayo engaguquki, i-AXA iphatha i-Mundiplan Futuro Seguro, enye yamabhizinisi ahamba phambili ngonyaka. Lolu hlelo, okwamanje oluvaliwe kubabhalisi abasha futhi oluhlelwe ukuvuthwa ngoSepthemba, luqoqe cishe ama-26,42% ezinyangeni eziyi-12 , cishe ama-10,5% eminyakeni emithathu futhi cishe ama-5,66% eminyakeni emihlanu . Ukuthambekela kwalo kuyavikela ngokusobala, cishe ama-76% atshalwe kumabhondi ase-Italy . Ukuze uqonde kangcono ukuthi ungahlela kanjani umhlalaphansi wakho, bheka ukuthi ungalufinyelela kanjani uhlelo lwempesheni.
Isinyathelo esisodwa ngemuva yiLoreto Óptima (Loreto Mutua), ethole imbuyiselo ecishe ibe ngu -9,44% ngonyaka odlule , cishe u-5,79% eminyakeni emithathu futhi cishe u- 4% eminyakeni emihlanu . Imali engenayo engaguquki ihlanganisa cishe u-76% wephothifoliyo, kanti isikweletu sikahulumeni waseSpain (amabhili ezimali kanye namabhondi) simele cishe u-10% . Kumasheya, isabelo esingu-15% siphethwe yi-Infineon, i-Siemens, kanye ne-Prudential . Ikhomishini yayo iyonke ihlala ku- 0,49% yokuncintisana.
Ibha
Phakathi kwezinhlelo ezigxile emasheya kuphela, uhlelo lwe-Okavango (Abante) luhola unyaka ngenzuzo ecishe ibe ngu -34% ezinyangeni eziyi-12 ezedlule . Ngendlela egxile eYurophu , umkhakha wezezimali ubamba cishe u-40% wesabelo , kuyilapho izindlu zimelela cishe u-19,7% . Ngokwesitoko, izabelo ezinhlanu ezinkulu zinikele cishe u-27,7% ekusebenzeni kwesikhwama: i-CaixaBank (cishe u-5,9%) , i-Neinor (cishe u-5,7%) , i-Indra (cishe u-5,6%) , i-Sabadell (cishe u-5,5%) , kanye ne -Grenergy (cishe u-4,9%) . Ngesikhathi eside, lesi sikhwama sigcine izinzuzo eziphindwe kabili eminyakeni yamuva.
Uhlelo lwe-ING Direct Ibex 35, oluphethwe yi-Renta 4 futhi olukhangiswa yi-ING, luphakathi kwabenza kahle kakhulu, ngenzuzo engaba ngu- 31,79% ngonyaka odlule . Ukuchayeka kwayo emasheya cishe kungama-82% , kanti okusele kusatshalaliswa phakathi kwezimali zesikhathi esizayo (cishe u-9%) , imali engenayo ehleliwe (cishe u-6%) , kanye nemali (cishe u-2,5%) . Ukuze ucacise noma yikuphi ukungabaza, bukeza ukuthi uhlelo lwempesheni luyini nokuthi lungakusiza kanjani ngokuhlela kwakho.
Imali engenayo engaguquki yesikhashana
Phakathi kwemikhiqizo elondoloza kakhulu, iCaser ivelele nge-CR Plan yayo, egxile esikweletini se-eurozone (cishe u-96%) , kanti ingxenye encane itholakala e- US naseCanada (cishe u-4%) . ​​Imbuyiselo yayo ifinyelela cishe ku -5,02% ezinyangeni ezingu-12 , kanti izibalo ziseduze no- 2,61% eminyakeni emithathu futhi cishe zingu -0,87% eminyakeni emihlanu . Isu lincike kuma -ETF , kanti i-BNP Paribas, i-Amundi, ne-BlackRock ziphakathi kwezindawo ezibaluleke kakhulu.
I-Arquia Banca Monetario isebenza ngaphakathi kwemingcele efanayo, ngenzuzo emaphakathi engaba ngu- 4,26% ezinyangeni eziyi-12 , 2,61% eminyakeni emithathu , kanye no -0,87% eminyakeni emihlanu . Itshala imali engu-100% emalini engenayo engaguquki — ngokuthambekela okukhulu kumabhondi ezinkampani (cishe u-76%) — kanye nokugxila eYurophu. Ukuze uthole imininingwane eyengeziwe, bheka "Ucabanga ukuthi yisikhathi esifanele sokuvula uhlelo lwempesheni?".
Kuqinisekisiwe
Ukutshalwa kwezimali okuqinisekisiwe kubuyisa ukukhanga lapho izimakethe zishintshashintsha, ngokushintshana nokudela amanye amathuba aphezulu. Uhlelo lwe-BK Revalorización 2030 lunikeza imbuyiselo engaba ngu- 10,35% ezinyangeni eziyi-12 , cishe u-3,51% eminyakeni emithathu , kanye nokwehla cishe kuka-0,45% eminyakeni emihlanu , okuzokwenzeka kuphela uma kulungiswa ngaphambi kokuvuthwa . Luklanyelwe ukubuyisa utshalomali ngo-2030 , lutshale imali kumabhondi , futhi lukhokhise ikhomishini engaba ngu -0,91% . Ukuze uqonde kangcono ukuthi le mikhiqizo isebenza kanjani, buyekeza indlela yokusebenzisa uhlelo lwempesheni.
I-RGA Protegido 2025 ithola inzuzo ecishe ibe ngu -8,21% ngonyaka ; uhlelo olungasavulelekile lokumaketha futhi lunosuku lokuphelelwa yisikhathi , ngakho-ke ifasitela lokujoyina selivaliwe futhi umgomo walo ukuletha isiqinisekiso esizibophezele ekupheleni kwesikhathi.
Ukusebenza kwangaphambilini akuqinisekisi imiphumela yesikhathi esizayo, futhi isigaba ngasinye siziphatha ngendlela ehlukile kuye ngomjikelezo. Ukukhetha ngokuhlakanipha kuhilela ukulinganisa ubungozi ngomgomo womlondolozi ngamunye, ukubukeza izinkokhelo, kanye nokubheka umugqa wesikhathi kuze kube yilapho usuthatha umhlalaphansi.
