Spanish insurance company MAPFRE has announced that it is restructuring its asset management company MAPFRE AM, creating new divisions and redefining responsibilities.
As part of this initiative, MAPFRE has created a strategic project development and innovation area that will integrate initiatives already underway, such as the merger of the Aladdin technology platform announced by the end of 2024, and the rollout of the discretionary portfolio management business.
Asset managers are changing their focus from product factories to service factories by implementing two new specialty verticals:
Investment areas: Committed to the development of traditional fixed income and equity funds, alternative investments and ALM (management group balance sheet).
Asset allocation field: Focus on multi-asset strategies and fund selection.
This shift is part of MAPFRE’s goal to become the benchmark for financial planning. To achieve this, it will rely on consulting services provided by MAPFRE AM as well as MAPFRE Inversión, both MAPFRE Vida units expected to report good results in 2025.
“The changes we have announced represent the alignment of objectives between the funds portfolio and the insurance portfolio. “We have an excellent multi-disciplinary team in place, so we have reason to lead financial planning as well. ” said Juan Bernal, Chief Investment Officer of MAPFRE Group.
According to the announcement, MAPFRE AM will end the year with €12.6 billion (97%) of mutual fund and pension fund assets and €450 million in net subscriptions. The company expects net subscriptions to exceed 700 million euros, an increase of 55%.
“We did benefit from the good performance of the market, but we also achieved a very positive net output by shifting savings into mutual funds,” said Álvaro Anguita, CEO of MAPFRE AM.
If the asset size of the group’s investment portfolio is included, the total assets under management of the asset management company exceed 43 billion euros.
Fernando López, general manager of MAPFRE Inversión, stressed that the division’s revenue this year will reach a record of nearly 150 million euros.
“Our commitment to financial advisory services attracts not only existing clients (only 6% of MAPFRE clients in Spain have savings or investment products) but also new clients. This is largely due to our increasingly professional network of offices and the number of financial agents at our disposal,” adds López, who recalls that there are now almost 1,800 agents authorized to sell financial products.
