Ibercaja Gestión announced last Tuesday, December 3, that it has recorded an increase in assets of 12% this year. In this way, the inversion arm of Ibercaja It reaches approximately 25,500 million euros of assets under management.
in an appearance before the media held in Madrid, the director of the asset management and insurance area of the entity, Luis Miguel Carrasco, underlined that in the last three years the company has increased its assets by 60%, equal to 10,000 million of euros.
Returning to the case of 2024, Carrasco highlighted that the net collection of new capital amounts to 1,400 million euros, half of the entire capital increase; the other half is due to market returns -, wich for the company means the fifth year with a revenue volume exceeding 1,000 million.
«Of every 100 euros of savings managed in funds in Spain, 10 have passed Management of Ibercaja«Carrasco said this to underline that,in the last three years,they have collected 8.6 billion in revenue, and that they have become one of the ten managers in Europe who have grown the most in recent years.
Similarly, in the corporate section, Carrasco announced that, starting next January, the company will incorporate private banking investments into the management team, a segment intended for wealthy customers, with the aim of creating greater synergies in terms of analysis and investment execution.
For his part, the general director of Management of IbercajaLily Corredor, celebrated that none of the firm’s investment funds have negative returns in the current year and that all are advancing in the year, at a weighted average rate of return of 6.2% in the eleven months to 2024 .
Focusing attention, in the stock sector the results of vehicles such as the one focused on China, created in collaboration with BlackRock, which grew by 17% in the year, and the company’s technology fund which gained 36% in the year stood out. ’year. , and which he ventured to be “the best in the contry,” while also citing another dozen stock-market-focused funds featuring double-digit returns.
Regarding mixed funds, he assessed that their returns are “excellent”, like that of the sector in general, and exemplified that the “Ibercaja Gestión Equilibrada” vehicle, one of the most conservative, presents an annual return of 6%. Furthermore, Ibercaja has great hopes in these products for next year.
Entering the fixed income segment, he assessed that it was the “flagship asset” of 2024, as it was the previous year, together with target return funds, one of the big bets of the house.
Now, he clarified, it is time to change strategy due to the situation of change in monetary policy, moving from public securities to quality fixed income, known in jargon as ‘investment grade’, and which hits issuers with ‘BBB’.credit quality; In line with this, it underlined that there is a need to increase the duration, for example from 12 months to 48. “We are moving into this evolving habitat,” the council underlined.
For her part, the investment director of Ibercaja Gestión, Beatriz Catalán, outlined a panorama for next year in which there will be moderate economic growth – around 3% -, with stable inflation and reduction policies by the central banks; a sketch from which they extract opportunities for both equity and fixed income markets.
Tho, the investment guide lies in one word: “diversification”, explained Corredor to underline that the manager’s mission is to focus on helping participants move in that direction, moving from the fixed income path of recent years to a growing commitment now to the stock markets.
Continuing with the elements on which the markets will revolve, Corredor explained that the most vital thing will be how and when Trump applies tariff cuts, deregulation, fiscal policy with tax cuts and immigration policies.
These policies, he continued, will have a clear effect in favor of increasing company profits, up to 15% (in Europe they will be limited to half), although there is also the risk of an inflationary recovery which could modulate the response of the economic system. Federal Reserve (Fed).
Though, Corredor argues that interest rate cuts will continue to have doubts about their intensity; The European Central Bank, ECB, has indicated that it will bring rates to a neutral environment of 2%.
On the other hand,the politics of countries such as Germany and France will also enter into this cocktail of forecasts,as well as macroeconomic developments; Therefore,the board clarified that in the United states they see it as resilient growth,2.4%; Europe growing in its trend, up to 1.4%; and china trying to find a minimum threshold to return to vrey robust 5% growth.
The conclusion of the capital strategy for 2025 leads to a US stock market that will continue to be strong and in which, moreover, the benefits will be generalized beyond technology, even if these continue to grow strongly.
“This gives some vertigo because of the high valuations, but looking at history, for there to be a downturn, there has to be either a recession or a rate hike by the Fed,” he noted.
for all these reasons, the company is betting on quality stocks and adopting a more cyclical orientation, while technology will continue to have an critically important weight.
They also said they highly like the U.S. financial sector, which will benefit from deregulation, and targeted defensive stocks such as healthcare and medical technology.
the general director of Management of Ibercaja he sees added value in fixed income in quality private debt, although he believes that with interest rate cuts, the attractiveness will diminish. In this sense, he specified: “We insist on the inclusion of variable income if we want consistent profitability in the annual calculation.”
What strategies is Ibercaja Gestión employing to achieve consistent asset growth and attract new investments?
Interview Between Time.news Editor and Luis Miguel Carrasco,Director of Asset Management and Insurance at Ibercaja Gestión
Time.news Editor: Good afternoon, Luis Miguel.Thank you for joining us today. Ibercaja Gestión has made headlines recently with a remarkable 12% increase in assets for 2023.What do you attribute this notable growth to?
Luis Miguel Carrasco: Thank you for having me. The 12% increase is indeed exciting, and it reflects a combination of our strategic focus and market dynamics. In the last three years, we have seen a robust 60% growth in our assets, thanks to careful planning and an understanding of investor needs.Our strong focus on customer service, innovative investment products, and a proactive investment strategy has played a major role.
Time.news Editor: It’s remarkable to see such consistent growth over the years. You mentioned that approximately half of the capital increase this year resulted from net capital collection. Could you elaborate on how you attract new investments?
Luis Miguel Carrasco: Certainly. We have been successful in building trust and rapport with our clients,wich has been key to attracting new capital. This year alone, we have seen net inflows of 1,400 million euros. We engage directly with our clients, offering personalized investment advice and showcasing the performance of our funds. additionally,our reputation for stability and positive returns encourages clients to invest their savings with us.
Time.news Editor: you mentioned that Ibercaja Gestión manages about 10% of all savings in Spanish funds. That’s quite a significant share. How do you maintain your competitive edge in such a crowded market?
Luis Miguel carrasco: Our competitive edge comes from being responsive to market trends and focusing on areas were we can excel. We have made significant investments in research and analysis, enabling us to identify profitable investment opportunities. Also, our recent decision to incorporate private banking investments into our management team allows us to deepen our service offerings for high-net-worth clients. This will create synergies in both analysis and investment execution.
time.news Editor: It appears that you have a solid plan moving forward,especially with new segments being incorporated. Now, regarding your funds, you stated that none of your investment funds have posted negative returns this year. What strategies have you implemented to ensure this kind of performance?
Luis Miguel Carrasco: Our strategy emphasizes diversification and adaptability. We actively monitor our portfolios and make adjustments based on market conditions. As an exmaple,our fund focusing on China and our technology fund have yielded impressive returns of 17% and 36% respectively. We balance our more aggressive investments with conservative ones, like the “Ibercaja Gestión Equilibrada,” which has managed a solid 6% return this year.
Time.news Editor: It seems like technology and emerging markets have played a significant role in your success this year. Can you share your outlook on these markets for the upcoming year?
Luis Miguel Carrasco: Absolutely. We are optimistic about both technology and emerging markets. The rapid growth in these sectors indicates strong potential for future returns. however, we also remain cautious and will continue to do thorough analyses to mitigate risks. Innovations and global economic shifts can create both opportunities and challenges, and we are prepared to navigate them.
time.news Editor: Lastly, as you look toward 2024, what are your main objectives for Ibercaja Gestión?
Luis Miguel Carrasco: Our primary objective is to sustain our growth trajectory and further enhance our customer service. We aim to launch new products that meet changing investor demands while ensuring that our existing funds continue to perform well. We also plan to further expand our presence in the private banking sector to tap into that market effectively. we want to solidify our position as one of Europe’s leading asset managers.
Time.news Editor: Thank you, Luis Miguel. Your insights into Ibercaja Gestión’s strategies and outlook are incredibly valuable. We look forward to seeing how you navigate the challenges and opportunities in the coming year.
Luis Miguel Carrasco: Thank you for the opportunity.I’m excited about the future, and I’m confident that our team will continue to deliver strong results for our clients.