;Mapfre has raised its stake in the French investment fund boutique, La Financière Responsable, to 51% of the capital, after having bought another package of shares. In this way, the Spanish insurer redoubles its commitment to both the French investment fund market and socially responsible investment (SRI).
The company chaired by Antonio Huertas acquired 25% at the end of 2017, in what was the first operation by a Spanish manager in a foreign firm in the sector. After having had a good evolution of the agreement and the good understanding between both firms, Mapfre has decided to take another step. “Since 2017, we have opted for sustainable investment and TRF has almost 25 years of experience in this segment. In these last five years, we have jointly launched SRI products, which have the peculiarity of having their own methodology for the final selection of the securities that are part of the fund portfolio, something highly recognized by our clients”, says José Luis Jiménez, general director of investments of Mpafre.
In this, one of the star funds that has emerged from this alliance has been the Responsible Inclusion fund, a vehicle that has been highlighted by the UN as an example of good practice. It is a product that incorporates into its portfolio those companies most committed to the labor inclusion of people with disabilities. Another example is Mapfre AM Capital Responsable, another Article 8 investment fund within the ESG category (investments with environmental, social and governance criteria) and which has just received five stars from Quantalys, one of the analysis providers most prestigious independent companies in the market.
Managed assets of 650 million euros
TRF has assets under management of 650 million. And despite the operation, continue with the same operation with its clients and maintain the same brand. “Since 2017, the Mapfre and LFR teams have been getting to know each other to develop an excellent relationship and cooperation that benefit the clients of both companies. We very much welcome this closer relationship, which is a very important step in expanding our collaboration”, explains Olivier Johanet, President of La Financière Responsable.
Mapfre AM thus continues its expansion, with sales capacity in Spain and Latin America too (in Brazil it has its own firm, called Mapfre Investimentos), although it also has the second largest SICAV in Luxembourg of a Spanish manager, with assets of more than 1,200 million, which opens the doors to the rest of Europe. In addition, it has funds registered in the United Kingdom and Malta and, now, it will promote sales in the French market.
