Over the years, Spanish asset managers have been progressively increasing their international presence and expanding into the biggest markets. While it is true that the industry’s main focus is on acquiring new clients who can’t access certain Spanish products, there is also an element of reaching a more institutional audience and even a foreign investor profile.
By the end of April, the Spanish asset management business in Luxembourg was worth 15.5 billion euros. Despite this representing a small fraction of fund managers’ total equity, it depicts a significant addition to the national industry’s fund volume of 307 billion euros.
The MAPFRE asset management unit, MAPFRE AM, is part of this group. Through its Luxembourg-based funds, the asset manager successfully increased its equity to more than 1.2 billion. According to FundsPeople, MAPFRE AM came second in the ranking of domestic management companies’ business outside Spain, and is one of only three managers that exceeded 1 billion in volume, demonstrating the significance of the Group’s overseas funds.