Jupiter to open office in Spain
UK based Jupiter Asset Management will open a new office in Madrid to strengthen its presence in the Spanish market.
The new office is expected to open once the financial regulator CNMV approves the move.
Gonzalo Azcoitia will continue to lead the business as sales consultant for Iberia. From the new office, located in Paseo de la Castellana 18, he will keep providing services to his clients, composed mainly by funds of funds, discretionary portfolios and private banks.
Azcoitia said the goal is to consolidate the relationship with Spanish clients to “keep growing” with products that add value to investors, according to their investment style and risk-return profile.
“The decision to open an office in Madrid marks another key step in our international expansion,” said Kevin Scott, head of Jupiter AM in EMEA.
Spanish clients can have access to the asset manager’s investment products through Luxembourg Sicav Jupiter Global Fund, registered in Spain, which has 18 sub-funds, such as Jupiter Dynamic Bond and Jupiter European Growth.
Last week, Jupiter announced its entry into the Italian market with the opening of a branch office in Milan.
Founded in 1985 as a specialist boutique, Jupiter boasts a total of €49bn AUM as at December 2015. Over the past few years, it has initiated a phase of internationalisation through expansion of its activities in Asia and several European countries.