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AssetDiversifica-on
&
Interna-onalCustody
Panamá,Marchof2017
Index
•  InOnCapital
•  PanamaRepublic
•  ProductsandServices
•  AssetDiversifica-on
•  Interna-onalCustody
In On Capital
•  Broker-DealerbasedinPanama
•  Access to global markets with our open
architectureplaLorm(OnlineAccess).
•  Teamexperienceofover100years
•  Securityandsolvency
•  Flexibilityandagility
•  Independenceandconfiden-ality
•  Regulatory compliance and an--money
launderingpreven-on
Panama Republic
•  Economic,poli-calandtaxstability:
q Strategicallylocated
q ParityexchangerateBalboa&USD
q Territorialitytaxa-on
q ProjectedGDPgrowth20175.7%
•  Solidfinancialsector:
q Highlevelsofliquidityinthesector
q Importantsupervisor
Products
We can buy and sell products in different
interna-onalmarkets:
•  Stocks
•  Bonds
•  MutualFunds
•  ETFandderiva-ves(tailormadeproductsif
required)
•  Otheralterna-veproducts(SICAVSIF)
•  Con-nued study of the client’s financial
transforma-onneeds
Asset Diversification
Defini-onofdiversifica-on:
Distribu-ngthetotalamountofinvestmentin
different assets in order to reduce porLolio
risk.
In our opinion, diversifica-on consists in
inves-ng not only in classical financial assets
such as stocks, bonds, mutual funds or
deriva-ves; for us to diversify means to
incorporate other assets such as real estate,
commodi-esandotherassets.
Asset Diversification
The total porLolio risk is reduced as more
assets are incorporated with different
characteris-cs.Assetswithinthesamegroup
havealowerdegreeofdiversifica-onamong
them,sincethefactorsaffec-ngthepriceare
similar.
If we incorporate assets of different classes,
the specific or unsystema-c risk is reduced.
MarketriskremainsintheporLolio.
Asset Diversification
Customerdiversifica-onprocess:
1)  Define investment profile (risk-ques-onnaire
investor profile), -me to maturity, currency,
liquidityrequiredbytheclient
2)  Diversifiedassetselec-on
3)  Controloftheinvestmentsandrebalancingif
necessary
Differentassetscanbemaintainedwithdifferent
levelsofrisk,liquidityand-metomaturity.The
most important thing is that the porLolio
correspondstotheriskprofileoftheclient.
Asset Diversification
Exampleclient50%Stock/50%FixIncome:
50%FixIncome 40%Stocks
10%Alterna-ve
•  Fundamental
analysis
•  Timeto
maturity?
•  Currency?
•  Coupon?
•  Risk?
•  Liquidity?
•  Countries?
•  MutualFounds?
•  Fundamental
Analysis
•  Currency?
•  Dividend?
•  Liquidity?
•  Countries?
•  MutualFunds?
•  Studiesof
differentprojects
•  Alterna-ve
foundsanalysis
International Custody
We have agreements with interna-onal
custodians that allow us to access the main
marketswiththebestcondi-ons.
It is important for us to diversify our global
porLoliosintodifferentcustodians.
AssetDiversifica-on
&
Interna-onalCustody
Panamá,Marchof2017