UK regulator gives green light to Spanish boutique March Gestión

Spanish boutique asset manager March Gestión de Fondos (MFG) has gained UK FSA approval to distribute its three flagship funds to the UK market.

The family wealth business announced plans to bring its European strategies to the UK in January and has been awaiting fund registration.

The three funds will be launched with sterling-denominated institutional share classes, with RDR share classes to follow, and will initially be offered to wealth managers and leading IFA distributors.

The key offering is March Vini Catena, a global equity fund investing in listed companies linked to the production and sale of quality wine.

At its third anniversary in December 2012 the fund, which has now reached over €100m in size, had returned 28.85%, beating the MSCI World benchmark’s 13.18% return, according to the group.

The other funds are the Family Business Fund, a global equity fund launched in 2011, and Torrenova, an absolute return global asset allocation strategy.

Torrenova already holds over €700m and has a target of CPI +2%. Over the last ten years it has produced an annualised return of 4.7%, versus the 3.9% of the MSCI World, with around a third of the volatility.

José Louis Jimenez (pictured), MGF’s chief executive, said: “These distinctive funds offer additional value to those customers and portfolio managers who are looking for particularly distinctive and transparent investment ideas.

“MGF does not invest in esoteric investments, we believe in straight forward value investing which has led, over many years, to a decent if not excellent track record – which is what one should expect from a good quality, traditional asset management business with clear objectives.”

MFG, the asset management arm of Madrid-based Banca March, has nearly doubled its assets under management in four years from €1.2bn (£1bn) to €2.2bn. It is a family owned wealth manager which uses a co-investment model in its funds, ensuring alignment of interest with its clients.

 

This article was first published on Investment Week

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