Fogain is the Spanish acronym for Fondo de General de Garantía de Inversiones (General Investment Guarantee Fund). The purpose of the Fogain is to protect individual investors in the event of bankruptcy of their investment manager.
Through the Fogain, it is possible to receive up to 100,000 euros per client or member company if an investment manager goes bankrupt or is unable to meet its obligations within a maximum period of 21 working days.
This does not mean that the Fogain covers the losses of an investment. This risk is always assumed by the investor.
The Fogain acts on investments just as the Spanish Deposit Guarantee Fund acts on checking accounts and deposits in financial institutions.