Financial regulator CSSF has authorised Spain’s BBVA Asset Management to operate as asset manager in Luxembourg. This means the bank’s two Sicavs, Durbana y Global Funds Sicav, will no longer be self-managed. From now onwards, the Sicavs will be managed directly by BBVA AM, a spokesperson for the Spanish group told InvestmentEurope. The move will avoid overlapping and additional […]
The BBVA Group, which owns Spain’s third asset manager per AUM, has pushed its profit up by 25.7% by gaining €2.6bn in 2014. The effective benefit on the group is estimated to have been up to €3bn, 53.1% up. Interest margin went up for the whole group, gaining €15bn over the whole year. Looking at […]
Spain’s BBVA Asset Management has launched BBVA Oportunidad Acciones IV, a passive fund with annual profitability. The fund will track the performance on the Spanish stock exchange of Telefónica, Repsol and Santander. The fund is the fourth version of a series of funds tracking those companies performance that was originally launched in February this year. […]
The Spanish asset management industry intense activity of M&A and restructuring has brought asset management companies from 120 to 96 since 2007, the local trade press highlighted from a report of the Comision Nacional del Mercado de Valores (CNMV). According to the CNMV data, as a result of such restructuring, the local industry has lost […]
Foreign funds and ETFs are the preferred choice of Invercaixa, Santander AM and BBVA AM, local trade press has highlighted on the basis of Inverco latest reports. According to the industry association report, foreign funds and ETFs offered within the tailored fund offer of Invercaixa Gestion, Santander AM and BBVA AM posted €3.3bn since the […]
Spain’s BBVA Asset Management has hired Alberto Roldán Navarro as manager of European equity team, according to the local trade press. Prior to joining BBVA AM, Roldán was CIO at Lloyds Investment Spain and director of analysis and strategy at Inverseguros Sociedad de Valores. Previous roles of Roldán include head of investmetns at Renta 4. Roldán will […]
Eduardo García Hidalgo has been appointed global chief investment officer at Spanish BBVA asset management.
Spanish investors have been redeeming fund investments through the financial crisis, but one sector is managing to attract interest.
BBVA Asset Management is to close BBVA Codespa Microfinanzas, the first hedge fund launched in Spain.
News from: Pictet AM, Schroders, First State, Bloomberg, BBVA AM, BNY Mellon, SGSS and Banco Cooperativo
The most efficient size of fund and the question of whether to prefer large fund houses or boutiques is discussed by selectors such as Bruno Pennino at FinecoBank and Ansgar Guseck at Sauren.
The summer’s financial turmoil has intensified competition across Spain’s asset management industry as companies fight for a share of a diminishing wealth market cake with both local and international asset managers under pressure.