Imantia Capital expands equity team

Spain’s Imantia Capital has hired Juan Llona as its asset manager for equities.

He will be involved in the analysis process and decision-making of this type of asset, and will be responsible for Spain’s stock market funds.

Llona was previously manager at Allianz Popular Asset Management, where he worked for five years as manager of mutual funds and pension plans, being responsible for sectors such as insurance, oil, telecommunications and technology.

Prior to that, Llona worked for Credit Suisse Gestión, within the department of Control and Risk Management. He holds a degree in Business Administration and Management from Madrid based Carlos III University, as well as the FRM and CAIA certifications.

“This addition aims to increase Imantia Capital’s supply of equities, where we want to achieve the same level of excellence that distinguishes us in fixed income,” the asset manager’s CEO Gonzalo Rodríguez said.

Last week, Imantia launched a passive fund that replicates the behaviour of the Spanish stock market index Ibex-35.

The Spanish firm claims Imantia Ibex-35 is the cheapest equity index fund of the Spanish market, with a management fee of 0.35%, which compares with the average fee of 1.7% for equity funds.

Imantia’s new product “combines low costs of ETFs with the tax advantage of funds”, Imantia said.

The fund, with is aimed to Spanish investors, has a reduced tracking error, so its behaviour is easily predictable for investors, it said.

Last month, Imantia announced a restructuring of its fund offer, in a move to define its new corporate strategy.

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