Investment service by which an entity adopts in a discretionary and individualized way all the decisions related to the composition and administration of a portfolio of securities, in accordance with the express instructions of the holder thereof. Discretion implies that within the scope of the instructions received, the managing entity can adopt at any time the decisions it deems most convenient; therefore, when you sign a portfolio management contract, the investor is delegating investment decision-making.
Origin: CNMV
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