Ibercaja Gestión surpasses €27.5 billion in assets under management at the end of June, marking a 6.7% increase compared to the close of 2024 and setting a new record for assets managed. The number of investors has also increased by more than 7,400, exceeding 259,700.
Lily Corredor, CEO of Ibercaja Gestión, states that “the consistent dynamic performance both in the semester and over recent years is the result of our clients’ trust and the advisory work carried out by the professionals of Ibercaja Banco’s branch network; of the proactive solutions to capture opportunities in different market environments; and, of course, the positive returns across our entire range of investment funds.”
The growth in assets under management is due to both contributions made during the semester and positive returns accumulated by the funds. Between January and June, the Aragonese asset manager received €1.58 billion in new contributions to its investment funds, doubling the amount achieved in the first half of 2024 and placing it among the Spanish asset managers with the highest inflows.
Corredor highlights that “this means capturing €9 out of every €100 of sector inflows, which, together with the returns obtained, has led us to increase assets under management by €1.7 billion. We have gone from nearly €25.7 billion at the end of 2024 to surpassing €27.5 billion in June, representing growth of over 6.5%, outperforming the sector’s 5.3%. This has allowed us to gain 8 basis points of market share in just six months, reaching 6.55%.”
Positive returns and new products
For Corredor, “this has been a semester that has left no one indifferent, marked by high volatility, although after the rebound in May and June, our funds have ended with positive returns. Active management has allowed us to take advantage of this positive performance, achieving a weighted average return of 0.74% for the semester across the range, which rises to 3.65% over the last 12 months.”
“We have also expanded our range of solutions by reinforcing our commitment to diversification with Ibercaja Cartera Conservadora and Ibercaja Diversificación. These new funds are aimed at different profiles, such as first-time fund investors, those who prefer short-term assets, and investors who have yet to diversify into traditional mixed portfolios.”
Corredor also recalled that Ibercaja Gestión has integrated the investment team for private banking clients, “which allows us to increase the value proposition to clients with larger balances, thanks to the synergies from merging two strong investment teams, enabling us to design discretionary portfolio management solutions and improve client information.”
In the second half of the year, the asset manager’s value proposition will aim to anticipate a market environment where interest rates will settle at levels lower than those enjoyed in recent years, emphasizing diversification and mixed portfolios as “the spearhead of its commercial strategy.”
Moderate growth, stable inflation, and expansionary central bank policies
Ibercaja Gestión’s Chief Investment Officer, Beatriz Catalán, explains that in an environment where commercial and geopolitical risks are receding, the base macroeconomic scenario remains constructive since “although global economic growth is rather moderate, private consumption has a solid foundation thanks to rising wages and low unemployment. The environment is also supported by decreasing inflation and continued interest rate cuts by central banks.”
The last three months, Catalán adds, have been a clear example of the importance of having a long-term investment plan and staying invested during moments of greatest uncertainty. “The V-shaped market recovery has surprised even the most optimistic forecasts, and the good performance of the U.S., even amid doubts about its global hegemony and a credit rating downgrade, has also been noteworthy.”
In the second half of the year, the market will focus more on fundamentals, such as economic growth and earnings trends, while uncertainties diminish and become more like market noise.
Global, diversified, actively managed portfolios are the best tools to remain invested long-term and avoid mistakes at the worst moments.
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