A closed-end or open-end portfolio company whose exclusive objective is the acquisition, holding, enjoyment or general management of securities and other financial assets. Spanish legislation requires it to meet certain requirements regarding minimum capital, number of shareholders or titles in which they can invest, in order to protect the economic rights of minority shareholders. In general, these companies do not acquire majority stakes in companies, as their risk policy is usually low and they opt for asset diversification. They do not usually exercise political rights in the companies in which they participate.
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