We report results from a high-resolution optical spectroscopic survey aimed to search for nearby young associations and young stars among optical counterparts of ROSAT All-Sky Survey X-ray sources in the Southern Hemisphere. We selected 1953 late-type (B − V ≥ 0.6), potentially young, optical counterparts out of a total of 9574 1RXS sources for follow-up observations. At least one high-resolution spectrum was obtained for each of 1511 targets. This paper is the first in a series presenting the results of the SACY survey. Here we describe our sample and our observations. We describe a convergence method in the (UVW) velocity space to find associations. As an example, we discuss the validity of this method in the framework of the β Pic Association.

We present the detailed spectroscopic analysis of 72 evolved stars, which were previously studied for accurate radial velocity variations. Using one Hyades giant and another well studied star as the reference abundance, we determine the [Fe/H] for the whole sample. These metallicities, together with the T eff values and the absolute V-band magnitude derived from Hipparcos parallaxes, are used to estimate basic stellar parameters (ages, masses, radii, (B−V) 0 and log g) using theoretical isochrones and a Bayesian estimation method. The (B−V) 0 values so estimated turn out to be in excellent agreement (to within ∼0.05 mag) with the observed (B−V), confirming the reliability of the T eff −(B−V) 0 relation used in the isochrones. On the other hand, the estimated log g values are typically 0.2 dex lower than those derived from spectroscopy; this effect has a negligible impact on [Fe/H] determinations. The estimated diameters θ have been compared with limb darkening-corrected ones measured with independent methods, finding an agreement better than 0.3 mas within the 1 < θ < 10 mas interval (or, alternatively, finding mean differences of just 6%). We derive the age-metallicity relation for the solar neighborhood; for the first time to our knowledge, such a relation has been derived from observations of field giants rather than from open clusters and field dwarfs and subdwarfs. The age-metallicity relation is characterized by close-to-solar metallicities for stars younger than ∼4 Gyr, and by a large [Fe/H] spread with a trend towards lower metallicities for higher ages. In disagreement with other studies, we find that the [Fe/H] dispersion of young stars (less than 1 Gyr) is comparable to the observational errors, indicating that stars in the solar neighbourhood are formed from interstellar matter of quite homogeneous chemical composition. The three giants of our sample which have been proposed to host planets are not metal rich; this result is at odds with those for main sequence stars. However, two of these stars have masses much larger than a solar mass so we may be sampling a different stellar population from most radial velocity searches for extrasolar planets. We also confirm the previous indication that the radial velocity variability tends to increase along the RGB, and in particular with the stellar radius.

Aims. Exo-planets are preferentially found around high metallicity main sequence stars. We investigate whether evolved stars share this property, and its implications for planet formation. Methods. Statistical tools and the basic concepts of stellar evolution theory are applied to published results as well as our own radial velocity and chemical analyses of evolved stars. Results. We show that the metal distributions of planet-hosting (P-H) dwarfs and giants are different, and that the latter do not favor metal-rich systems. Rather, these stars follow the same age-metalicity relation as the giants without planets in our sample. The straightforward explanation is to attribute the difference between dwarfs and giants to the much larger masses of giants' convective envelopes. If the metal excess on the main sequence is due to pollution, the effects of dilution explain why this is not observed in evolved stars. Conclusions. Although we cannot exclude other explanations, the lack of any preference for metal-rich systems among P-H giants could be a strong indication of the accretion of metal-rich material. We discuss further tests, as well as some predictions and consequences of this hypothesis.