Vanguarda PPR

Vanguarda PPR

Vanguarda PPR originated in 1996 as Fundo de Pensões Aberto Reforma PME and was renamed in 2001. Ageas Pensões has run the fund since inception. The portfolio maintains a 70-80 percent allocation to government and corporate bonds with the balance in global equities. Confirmed holdings include direct ownership of the Ageas Douro Building in Porto and the Ageas Tejo Building in Lisbon. Geographic exposure centers on Portugal and broader European fixed-income markets. Ageas Pensões employs the firm’s internal investment team. The manager also oversees Fundação Ageas, established in 1998, which directs grants toward health and social-exclusion programs in Portugal. In September 2023 the fund sponsored the World Football Summit Europe in Seville. Vanguarda PPR sits inside the Millenniumbcp Ageas joint venture, giving it captive distribution through one of Portugal’s largest banks while remaining ring-fenced from the insurer’s proprietary capital.