CONSIDERATIONS:


Rebalancings performed due to customer exits involve changes to the composition of the portfolios of all of the remaining customers, respecting at all times the guidelines established in the corresponding exhibit for each Portfolio.

DESCRIPTION:


It is necessary to make this information available to investors, through publication online on the Finamex website: www.finamex.com.mx
All rebalancings must be performed through the automated system developed for this purpose and in no case shall any manual adjustments be made.
Types of rebalancing:

a) Daily Rebalancing:
This process is performed every day and the purpose is to invest the customer deposits made during the day. This investment is usually made in highly liquid government instruments. The objective of this rebalancing is not to standardize the structure of the customer portfolio.

b) Standardization Rebalancing:
This is performed at least two and a maximum of four times per month and the objective is to standardize the investment percentage by instrument for all customers participating in the same investment strategy. The rebalancing shall never include securities classified as “NON-liquid Securities or Securities with Low Liquidity”.

c) Quarterly Rebalancing:
On the pre-established dates for divestment of the Portfolios (usually March, June, September and December of each year) the securities sold by customers who request liquidity or investment withdrawals by remaining customers shall be redistributed. The rebalancing shall never include securities classified as “NON-liquid Securities or Securities with Low Liquidity”.
Prices to be considered:

The prices to be considered at all times shall be those governing in the market at the time of the rebalancing or the price reported by Valmer’s Price Vector, in the case that there are no transactions on the day of the rebalancing.
Considerations about types of securities (liquid, non-liquid)

To avoid having “NON-liquid Securities or Securities with Low Liquidity” being acquired through rebalancing by customers remaining in portfolios after the divestment of other customers it is necessary to consider:

a. Portfolios in no case may acquire “NON-liquid Securities or Securities with Low Liquidity” on a maturity date later than the divestment date stipulated in the portfolio in question.

b. The Executive Presidency, together with the UAIR (Risk Management Unit), shall prepare the catalog of issuers, other than the Capital Market, to be considered as “NON-liquid Securities or Securities with Low Liquidity”.

c. The catalog of “NON-liquid Securities or Securities with Low Liquidity” must be reviewed at least once per year or when considered necessary by the Executive Presidency and the UAIR (Risk Management Unit).