Spanish asset manager Universe AM starts operating in Spain taking on two funds from Egeria Activos that gather together over €10m in assets under management.
Universe AM was launched in Autumn 2018 and is the first firm that specialises in passive management in Spain. Born from the transformation of the Spanish eafi Serfiex Investments into an asset manager, the firm was founded by Rafael García Romero and José Diego Alarcón.
The two funds advised to the date by Egeria Activos and transferred now to Universe, are the GDP World Corporate Bonds and the GDP World Equity.
The GDP World Corporate Bonds invests over 75% of the total exposure in corporate bonds with periodic fixed coupons of at least,average credit quality of issuers/markets in Europe, Brazil, Mexico, Canada and the United States, which together have a minimum participation of 45 % in world GDP. The percentage of investment in each geographical area is calculated based on the weighting in world GDP according to data published by the International Monetary Fund (IMF). It invests in at least three issuers and up to 40, in each country/geographical area.
The GDP World Equity invests more than 75% of the total equity exposure of any capitalisation of issuers and markets in Europe, Brazil, Mexico, Canada, the US, China, Japan, India, Korea and Australia that together have a minimum participation of 70 % in world GDP. The percentage of investment in each of the geographical areas is calculated based on the weight that these countries or geographic zones have in the world GDP according to the IMF.