INVESTMENT TEAM OurinvestmentteamisledbyaDirectorofAssetManagement, responsibleforstructuringand supervisingthedifferentareasthatmanageclientassets. Inparticular,hemustdeliverthegeneral guidelinesfortheentireteam,protectandimplementtheinvestmentphilosophydefinedby InversionesSecurityand,aboveall,ensurethatthereareadequateproductsthatrespondtothevalue propositionthatInversionesSecurityhaspromisedtodelivertoeachcustomersegment. InAdministradoradeFondosSecurity,ourfundmanagementcompany,investmentdecisionsareled bytwoInvestmentStrategyManagers, oneresponsibleforstrategiesindomesticassetsandtheother forstrategiesinglobalassets. InValoresSecurityCorredoradeBolsa,ourseparateaccountplatform,investmentdecisionsareledby aWealthManagementInvestmentManager. Asaconsequence,respectingourprinciplesoftransparencyandconsideringourcommoninvestment philosophy,theinvestmentdesksatAdministradoradeFondosSecurityandValoresSecurityCorredora deBolsaSecurityhaveautonomousandfullyindependentinvestmentandassetmanagementteams, capabletodevelopspecificproductsandstrategiestorespondtheneedsoftheirparticularclients. 12