The euro fund is mainly made up of bonds and Treasury bills - a debt security issued by the State. It may also include a smaller portion of real estate and shares depending on the manager's wishes. Thus, it makes it possible to offer a capital guarantee, unlike units of account. It is also possible to recover the invested funds at any time.
Each year, the interest earned is reinvested - this is the ratchet effect.
However, the return on this low-risk investment is declining. According to the ACPR, it was 1.46% in 2019, compared to 2.80% in 2013. This drop is explained by the reduction in the ECB's key rates in recent years.
Feefty SAS - Capitale sociale 76 498,13€ - SIREN 844765578 - RCS Nanterre - Codigo APE 7022Z - Società di investimento autorizzata dall’ACPR (CIB 18083) per l’erogazione di servizi di consulenza in materia di investimenti, soggetta alla vigilanza dell’ACPR e dell’AMF - Intermediario assicurativo iscritto all’ORIAS con il n. 19001259 (orias.fr) - Membro dell’AMAFI - Membro dell'AMAFI