España archivos - Page 6 of 177

Private Debt, Technology, and Talent: The New DNA of Asset Management

Private debt and technology in asset management — María Fernanda Magariños, Executive Director of Investment Management at Sura Investments

FlexFunds and Funds Society, through their Key Trends Watch initiative, share the vision of María Fernanda Magariños, the newly appointed Executive Director of Investment Management at Sura Investments, a company within Grupo SURA, an investment management firm with 80 years of experience and a presence in Mexico, Colombia, Peru, and Chile, in addition to investment vehicles in the United States and Luxembourg.

A qualified actuary, Magariños is strongly motivated to channel global resources toward Latin America’s sustainable development, bridging economic and social gaps through investment. In her new role, she is responsible for designing investment solutions for pension fund managers, insurance companies, and family offices.

In a challenging and volatile economic environment, her strategy focuses on building long-term, trust-based relationships and ensuring operational excellence—key aspects for institutional clients who must balance profitability and stability when managing third-party assets.

To achieve this, she considers three essential factors: a straightforward client-focused approach, strong talent management to enhance investment strategy execution, and the ability to operate within strict regulatory frameworks without losing flexibility—crucial in maintaining confidence in diverse Latin American markets.

Trends in portfolio and investment vehicle management

Magariños highlights the increasing inclusion of alternative assets in investment strategies. Alternative assets have become an essential diversification tool for institutional investors, who typically manage portfolios with a long-term investment horizon. Traditional assets in Latin American markets do not always offer the depth or returns needed to meet investors’ objectives.

She mentions infrastructure, private debt, and real estate, among the most popular alternative assets. These assets enable greater diversification and contribute to economic development and regional strengthening, adding extra value for investors. In this sense, alternative assets balance risk and return, which is key to meeting institutional clients’ investment profiles.

Another crucial aspect of asset management is the proper selection of investment vehicles. Magariños emphasizes that each client type requires tailored solutions. While insurers may benefit from direct or structured vehicles that optimize capital and reduce regulatory requirements, pension funds find more value in collective investment funds aligned with their operational structures.

The key is not to apply a one-size-fits-all solution but to design customized strategies that balance profitability and risk for efficient and sustainable investment management.

According to Magariños, success in asset management in Latin America depends on a long-term strategic vision centered on client needs and trust-based relationships. The key lies in portfolio diversification, incorporating alternative assets that provide greater stability and returns. Moreover, investment solutions must be flexible and adaptable, with a strong local presence that ensures compliance with regulations without compromising efficiency.

Thus, capital optimization, effective talent management, and the ability to adapt to a constantly changing environment will be fundamental in strengthening asset management in the region, where alternative assets will play a key role in ensuring the growth and sustainability of institutional portfolios.

Which assets will dominate the future?

Looking ahead, María Fernanda identifies a key financial instrument for investors in 2025: private debt. This instrument diversifies portfolios and offers attractive returns in an environment with a limited supply of traditional options. The growing interest in alternative assets also reinforces their role in risk management and returns optimization.

Separately managed accounts (SMA) vs. collective investment vehicles

According to Magariños, separately managed accounts and collective investment vehicles play a crucial role and must coexist in the market. This flexibility allows investment solutions to be tailored to specific investor needs. Sura Investments, for example, offers a wide range of investment solutions, from Latin American alternative assets to third-party funds investing in global assets, adapting to the demands of insurance companies, pension funds, and family offices alike.

When asked about the most important factors investors prioritize when making decisions, Magariños highlights two key elements: the quality of the manager and operational excellence.

Investors increasingly focus on manager profiles, seeking proven experience and a strong track record in investment strategies. In this regard, a firm’s performance is measured not only by returns but also by its ability to deliver efficient operations and timely reporting, which are essential to meeting institutional investors’ regulatory requirements and expectations.

In this context, Magariños underscores the key skills an advisor should have: active listening, effective communication, and a genuine interest in learning. At Sura Investments, these skills are highly valued, as providing expert advisory services to clients is central to their value proposition and a fundamental way to achieve clients’ financial goals.

However, Magariños adds that one must not overlook the advancement of artificial intelligence, which is becoming the new driving force in asset management. AI’s data analysis capabilities have enhanced the personalization of investment solutions and optimized decision-making, enabling the creation of products tailored to client needs making them more competitive and efficient.

The interview was conducted by Emilio Veiga Gil, Executive Vice President of FlexFunds, as part of the Key Trends Watch initiative by FlexFunds and Funds Society.

Will 2025 Be the Year of Private Equity Reacceleration?

| For Amaya Uriarte | 0 Comentarios

The recent challenges facing the private equity market could be overcome as rate cuts and lower inflation set the stage for an improvement in multiples. According to Rainer Ender, Global Head of Private Equity at Schroders Capital, although 2024 saw a significant slowdown in deal activity, signs of recovery are emerging, suggesting that the private equity market could be more dynamic in 2025.

“Just like in 2023, we have seen wide bid-ask spreads and reduced liquidity. When interest rates rise, so do the financing costs for acquisitions, which lowers the EV/EBITDA. Buyers pay more to secure fewer loans, reducing the amount they are willing and able to offer for assets,” says Ender.

In his view, rising interest rates have put downward pressure on cash flows, while inflation has increased costs for companies that lack proper pass-through mechanisms. Meanwhile, sellers have tried to exit assets when leverage was cheap and multiples were rising. Ender believes this dynamic has created a mismatch between the price buyers are willing to offer and the price sellers are willing to accept. Even amid these challenges, he sees several developments suggesting that 2025 may bring more favorable conditions.

“Although EV/EBITDA multiples for large acquisitions have declined, the global value of deals is increasing, a trend driven by the preference for larger investments in established companies. Exit prices in the global market have stabilized, and there has been a recent uptick in sponsor-to-sponsor exits (where one PE fund sells to another PE fund). However, a significant valuation gap persists, as small and mid-sized company acquisitions are trading at a steep discount compared to their larger counterparts, a trend that suggests a perceived value discrepancy in the market,” Ender points out.

Secondly, he believes that many of the factors putting downward pressure on multiples will dissipate, and the decline in interest rates and lower inflation should lay the foundation for an improvement in multiples. “We also believe that investors could benefit by following the money and considering GP-led secondary transactions. Nearly half of the record-high secondary transaction volume in the first half of the year came from these vehicles, also known as continuation funds. These funds align the financial incentives of GPs and LPs, creating potential benefits for all stakeholders: the original sponsor, new and existing investors, and the company or companies within the new fund structure,” he emphasizes.

Finally, Ender notes that conditions will also favor a focus on small and mid-cap markets, which are diversifying. “Recent history has demonstrated their potential to perform well in periods of volatility, and the law of large numbers (probability theory) makes it inherently easier to generate higher multiples in smaller companies. Operating in small and mid-cap markets also reduces dependence on the still-stagnant IPO market for exits. Moreover, after successfully helping a small or mid-sized company grow into a large-cap company, exits can be larger in the market, where a significant amount of dry powder—capital already raised and seeking opportunities—remains available. If we combine the recent period of volatility with the dot-com crash, the global financial crisis, the eurozone crisis, and the COVID-19 pandemic, we see that the Global Private Equity Index outperformed the MSCI ACWI Gross Index by an average of 8%,” argues the Schroders Capital expert.

Additionally, he highlights that, structurally, the nature of committed capital allows firms to retain ownership of assets during crises and sell them when market conditions are favorable, avoiding the kind of “fire sales” at low valuations. “The generally more rigid nature of private equity also prevents people from falling into psychological investment traps, such as panic selling at the worst possible moment. From a fundamentals perspective, private equity firms tend to have a different sector mix compared to public markets, focusing on less cyclical industries such as healthcare and technology while maintaining lower exposure to banks and heavy industry. Additionally, private equity tends to favor growth and disruption, seeking companies with high expansion potential. They also prefer business models with recurring cash-generating revenues, as these tend to be less volatile,” he concludes.

Why are ETPs the ace-up asset managers’ sleeves?

| For Romina López | 0 Comentarios

Exchange-traded products (ETPs) have become an essential tool for portfolio managers, as highlighted by FlexFunds, offering flexibility, accessibility, and cost efficiency for asset repackaging and management. These financial instruments enable asset managers to efficiently diversify their portfolios, implement tailored investment strategies, and seamlessly adapt to changing market conditions.

What Is an ETP?

An ETP is a financial instrument traded on a stock exchange, similar to equities. It provides access to a benchmark index or a specific asset class, making it easier for managers to construct diversified portfolios with a single transaction. Most ETPs are passive investments designed to track the performance of an underlying index or asset, generally with lower operating costs than actively managed investment funds or mutual funds.

Characteristics of ETPs

Passive management: A cost-efficient and transparent option for gaining exposure to an index or asset without the need for constant active management.
Simplified diversification: Enables managers to access a broad range of assets through single trade.
Liquidity and ease of trading: Can be bought and sold during market hours, with real-time pricing.
Flexibility for managers: Can issue shares or debt securities based on demand, adapting to portfolio needs.
Transparency: ETP components are published daily, providing managers with a clear view of portfolio holdings.

The growing ETP market

The ETP industry has experienced significant growth since the launch of the first product in 1993. According to independent research and consulting firm ETFGI, as of January 2025, over $14 trillion was invested globally in ETFs/ETPs. In the United States, the market reached a record $10.73 trillion in January 2025, surpassing the previous peak of $10.59 trillion recorded in November 2024. These figures reflect the growing interest in and adoption of ETPs as a key portfolio management vehicle, as illustrated in the following chart:

ETPs vs. traditional investment funds

Today, portfolio managers have a wide range of investment vehicles to optimize their strategies. This article focuses on comparing ETPs with traditional investment funds, highlighting their key differences in the table below.

FlexFunds: A global leader in ETP solutions

FlexFunds is an internationally recognized service provider for the issuance and administration of ETPs covering listed assets and alternative investments. These solutions are tailored for investment advisors, hedge fund managers, private fund managers, and real estate fund managers.

FlexFunds’ ETPs stand out for their efficiency and versatility, allowing asset managers to design customized strategies and create exchange-listed products with a unique ISIN code listed on the Vienna Stock Exchange and Bloomberg. Among their key advantages:

Efficient subscription via Euroclear
Flexible portfolio composition: Enables the securitization of multiple asset classes, both liquid and alternative.
Cost-efficient structure: Enhances portfolio profitability and optimizes operational expenses.
Global access: Products can be acquired from any brokerage account worldwide, facilitating international distribution.
Integrated administration: Supported by renowned institutions such as Interactive Brokers and Bank of New York, ensuring security and trust.
Direct reporting and transparency: Pricing is calculated and displayed directly on Bloomberg, Six Financial, and investors’ accounts.

With FlexFunds’ investment vehicles, asset managers can access solutions that securitize multiple asset classes, both liquid and alternative. To learn how these solutions can enhance your investment strategy, feel free to contact one of our experts at info@flexfunds.com.

The Rebound in European Private Debt Operations Experienced in 2024 Will Continue This Year

| For Amaya Uriarte | 0 Comentarios

Private credit was one of the most in-demand assets among private market investors in 2024. Not only did it gain popularity, but European market operations rebounded over the past twelve months, reinforcing its appeal. According to experts at Pictet AM, this trend is expected to continue in 2025.

“It is important to note that this is a growth asset class, starting from an approximate value of €400 billion, which is only a third of the size of this market in the U.S. It is also expanding into small and medium-sized enterprises, which are increasingly turning to direct loans, as traditional bank financing is difficult to obtain,” explain Andreas Klein, Head of Private Debt, and Conrad Manet, Client Portfolio Manager, both from Pictet AM, in their latest analysis.

They argue that smaller transactions, especially those aimed at growth or transformational capital—where direct loans are the primary alternative to banks—are largely shielded from competitive dynamics. This contrasts with the larger-volume end of the market, where renewed competition from syndicated and high-yield loans generates excess capital, lower interest rates, and weaker protective clauses.

“In fact, yield-to-maturity spreads in European direct loan operations have declined by nearly 1% since early 2023 in the core and upper-middle segments, falling below 6% for the first time. Some loans have even been issued at 4.5% and 5%, often without creditor covenants. This has coincided with historically high levels of investment capacity, to the point that private equity and private debt funds now hold a record $2 trillion available for investment. A weak mergers and acquisitions market has contributed to this, creating a scarcity of opportunities. As a result, loan transaction margins have shrunk, with a relaxation of protective clauses,” the experts highlight.

However, they clarify that the reduction in margins in the lower-middle market—defined as transactions with companies generating up to €15 million in operating profit—has been more modest, around 0.2%. This is because there are fewer private debt funds competing in this segment, and banks have a limited presence due to capital constraints, particularly regarding credit lines. “In this lower-middle segment, yield spreads remain stable, and risk parameters are more controlled, leading to an improved risk-adjusted return premium compared to the more traditional, higher-volume segment. Specifically, leverage is decreasing in the lower-middle market, with more transactions closing at less than four times debt/EBITDA. Additionally, strong protective clauses for investors prevail in this segment,” Pictet AM analysts emphasize.

Another factor investors value in direct loans is their relatively low default rate. According to the experts, default rates have risen to around 6% in syndicated loans but remain below 2% on average in direct loans. However, they caution that default rates could rise due to lingering inflationary pressures and a potentially slower pace of interest rate cuts by European central banks compared to previous cycles. This could create tensions, particularly in more cyclical and leveraged segments, such as high-yield and leveraged loans.

“However, in 2025, we expect the lower-middle segment of direct loans to benefit from improving economic conditions and a rebound in M&A activity. That said, Europe’s economic recovery may not be uniform, and volatility is possible. Therefore, we are focusing on less market-sensitive and less volatile sectors such as medical technology, software, and business services. These sectors provide diversification, more stable income, and better capital preservation. On the other hand, we are avoiding more cyclical segments within the industrial and consumer sectors. Additionally, while most of the market continues to issue loans with light protective clauses, we hold single-lender positions, allowing us to structure customized agreements that better protect capital,” add the experts at Pictet AM.

They acknowledge that smaller companies can be riskier but emphasize their focus on businesses operating in and dominating niche markets with high entry barriers and limited competition. “Often, these companies exhibit the defensive qualities of major industry leaders—sometimes even better. Moreover, private equity funds tend to overweight loans to private equity-owned businesses, where transaction volume is higher, though potentially offering less value. However, maintaining a significant proportion of loans to company founders can be a strength if the right network is in place. That’s why our portfolio balances loans to private equity-owned companies with direct loans to founders, providing an additional layer of diversification,” they note.

Overall, Pictet AM expects that in 2025, the lower-middle segment of direct loans will remain a superior and more stable source of income and capital preservation. It can complement more traditional allocations to the upper-middle segment, special situation debt, and private equity debt. “It can serve as a strategic component in any private credit portfolio, both for investors taking their first steps into this asset class and for more sophisticated investors looking to diversify their portfolios,” the experts conclude.

The Great Latin American Wealth Migration to Spain

| For Amaya Uriarte | 0 Comentarios

In recent years, Spain has solidified its position as a highly attractive destination for wealthy Latin Americans. A growing number of high-net-worth Latin American families are settling in the country, driven primarily by significant political changes in their home countries. They seek, among other things, both physical and economic security for their assets in Spain.

Madrid, in particular, has recently experienced such a significant influx of investment from Latin America that it has come to be known as the “new Miami.” The numbers speak for themselves. For instance, 17% of residents in the affluent Barrio de Salamanca are wealthy Latin Americans, and nearly 15,000 Latin American students attended Madrid universities during the 2022-23 academic year.

Why Is Spain So Attractive to High-Net-Worth Latin Americans?

Spain offers significant opportunities with a business-friendly environment and strong cultural and linguistic ties to Latin America. Additionally, it is an appealing country from a family perspective, thanks to its top-tier public and private universities, pleasant climate and lifestyle, high-quality healthcare, relatively low crime rates, easy access to the rest of Europe, and good connections to Latin American countries.

For all these reasons, Spain is an obvious choice for Latin Americans looking to emigrate. But what has truly triggered the current high levels of wealth migration?

Many high-net-worth Latin American families began considering investment and/or relocation to Spain following the rise of left-wing governments across the continent, which generally created a less favorable fiscal and regulatory climate for the wealthy. Other recent events, such as Mexico’s 2024 judicial reform or the redefinition of private property in Mexico City’s constitution, have also spurred these movements.

Spain’s luxury real estate market has been another key factor drawing the attention of affluent Latin Americans, as these properties offer better value per square meter compared to what they might find elsewhere in Europe or much of the United States.

Recognizing the economic opportunity this trend presents, certain administrations have taken specific measures to foster and accelerate these wealth flows. For example, Isabel Díaz Ayuso, President of the Community of Madrid, announced last year that tuition fees at public universities for Latin American students would be reduced to match those paid by Spanish and European students starting in the 2024-25 academic year.

More importantly for this segment of the population, the recent approval of the so-called “Mbappé Law” in Madrid, which took effect on January 1, 2025, introduces a 20% regional deduction on personal income tax for non-residents who establish tax residency in Madrid and make certain investments as stipulated by the law.

Finally, it is important to note that many will still be able to benefit from the well-known “Beckham Law,” allowing them to be taxed as non-residents during their first years of residence in Spain, offering clear tax advantages. However, eligibility will depend entirely on the professional activities they undertake while in the country.

Will Recent Changes Affect Latin American Wealth Migration?

However, it is not all smooth sailing. It is undeniable that housing prices have risen significantly as more high-net-worth families have moved to or invested in Spain, particularly in major cities. While this reflects the strong interest in the country among foreign buyers, it has also priced many local residents out of the market, generating growing discontent over measures aimed at attracting international investment.

To ease tensions surrounding the impact of wealthy foreigners on Spain’s real estate market, the Socialist government voted in 2024 to eliminate the Golden Visa, which allowed individuals to obtain permanent residency through the purchase of properties valued at €500,000 or more.

Golden Visa applications will only be accepted until April 3, 2025, prompting some foreign investors to rush their purchasing decisions. However, other pathways for non-EU nationals to obtain residency in Spain, such as the non-lucrative residence visa, will remain available.

Additionally, and more controversially, Prime Minister Pedro Sánchez has recently introduced several proposals, including the potential implementation of a 100% tax on property purchases by non-EU residents. The aim is to curb foreign real estate investment and make housing more accessible to Spanish residents.

However, there is significant uncertainty regarding whether these measures will gain the necessary support from key government allies to move forward, which is crucial in a highly fragmented political coalition.

Moreover, it remains to be seen whether such measures (if ultimately approved) could be considered discriminatory and in violation of EU law by relevant authorities, including the European Commission or the Court of Justice of the European Union. This is particularly relevant given recent case law on inheritance and gift taxes and the rental of properties by non-EU residents.

Madrid Will Likely Cement Its Status as the “New Miami”

Ultimately, despite recent developments, Spain and its capital are well-positioned to continue attracting high-net-worth Latin American families.

The strong historical, cultural, and linguistic ties make Spain a natural destination for these individuals to establish their new home. And while there may be some political instability surrounding this issue at present, Latin American wealth migration is almost certain to continue in the coming years.

Opinion piece by Nerea Llona, Tax & Legal Counsel for Spain and Latin America at Utmost Wealth Solutions.

The First Catastrophe Bond ETF Ready to Begin Trading on the NYSE

| For Amaya Uriarte | 0 Comentarios

Catastrophe bonds, whose returns have consistently outperformed high-yield debt markets in recent years, are about to become accessible to a broader segment of investors.

Next month, the Brookmont Catastrophic Bond ETF, based on a portfolio of up to 75 of the 250 so-called “catastrophe bonds” in circulation, could begin trading on the New York Stock Exchange (NYSE)—a global first.

“It’s an asset with a lot of nuances, and our goal is to demystify it,” said Rick Pagnani, co-founder and CEO of King Ridge Capital Advisors Inc, which will manage the ETF, in an interview cited by Bloomberg. The fund will be overseen by Brookmont Capital Management LLC, based in Texas.

Pagnani, who until last year led Pimco’s insurance-linked securities division, stated that “it is difficult to create a diversified catastrophe bond portfolio for a typical individual investor.” By packaging catastrophe bonds into an ETF, “we aim to lower some of the barriers to entry,” he said.

The market, dominated by U.S. issuances, is currently valued at approximately $50 billion, according to Bloomberg.

According to Pagnani, the pipeline of projects remains “strong and growing,” which could help push the market to $80 billion by the end of the decade.

Brookmont and King Ridge are still finalizing the lineup of partners involved in launching the ETF. They aim to raise between $10 million and $25 million in initial capital. The ETF is registered with the SEC.

The fund will cover risks ranging from Florida hurricanes and California earthquakes to Japanese typhoons and European storms, according to the prospectus filed with the U.S. market regulator.

As outlined in the prospectus, it is an actively managed ETF that, under normal circumstances, will invest at least 80% of its net assets in catastrophe bonds. It will not have restrictions on specific issuances, risks, or geographic exposure. However, the document notes that at times, the fund may have a relatively higher exposure to U.S.-related risks.

Additionally, it may occasionally have a greater concentration in Florida hurricane-related catastrophe bonds than in other regions or risks due to the higher availability of such investments relative to the global market.

Sustainable Investment Remains Strong Thanks to Europe and Its Ability to Adapt to Political Cycles

| For Amaya Uriarte | 0 Comentarios

Despite Donald Trump’s return to the White House and the rise of right-wing parties in Europe, asset managers remain optimistic about the outlook for sustainable investment this year. So far, sustainable investment funds have shown significant growth in recent years. According to 2023 data, these funds reached approximately €500 billion in assets under management, with Europe accounting for 84% of this total—around €420 billion.

How Do Investment Firms View 2025?

According to Pascal Dudle, Head of Thematic and Impact Investing at Vontobel, sustainability will remain important despite challenges posed by recent political shifts. It will be driven by companies maintaining their commitment for reasons ranging from economic opportunities to risk management.

“A key example of this was the unexpected yet encouraging support from ExxonMobil’s CEO during COP29 in November, urging incoming President Trump not to exit the Paris Agreement and to keep the U.S. Inflation Reduction Act (IRA) intact. 2025 will also see continued investor scrutiny of the myriad ESG approaches being offered, with stricter strategies, such as impact investing, likely among the winners,” says Dudle.

He also believes that energy transition is here to stay, as clean technologies are now economically viable, scalable, and come with limited technological risk. “The need for reliability and resilience should, in particular, drive investments in infrastructure, such as increasing investment in power grids to ensure their reinforcement and modernization,” he adds.

Trump’s Challenge to Sustainable Investment

While investors—and Europe—continue their shift towards sustainability, the Trump administration has taken a different path. His first term was marked by rollbacks in environmental protections, the U.S. withdrawal from the Paris Agreement, and skepticism toward climate science. These policies affected the global sustainable finance ecosystem, meaning his return could once again test the resilience of ESG investment.

In his second term, Trump has declared a “national energy emergency,” in line with his campaign promises. According to experts at Allianz Global Investors, the measure aims to strengthen the U.S. fossil fuel sector, the world’s largest oil producer, and cut energy prices by 50%.

“His actions will complicate the fight against climate change. Additionally, skepticism surrounds Trump’s ability to halve energy prices as he claims. During the 2020 pandemic, even when oil prices turned negative, U.S. energy costs only dropped by 19%. Other factors, such as his order to replenish the Strategic Petroleum Reserve, could even push prices up in the short term,” state Greg Meier, Senior Economist at Allianz Global Investors, and David Lee, U.S. Energy Sector Specialist at Allianz GI.

Their conclusion is clear: “While Trump’s actions reinforce his commitment to fossil fuels, their actual impact on lowering energy costs will likely be limited and far from his stated expectations.”

Key Takeaways for Investors

In this context, Sophie Chardon, Head of Sustainable Investment at Lombard Odier Private Bank, believes investors should focus on sectors less exposed to political shifts, such as infrastructure, digitalization, energy efficiency in buildings, water management, and precision agriculture.

“From an investment perspective, Trump’s second administration could increase sectoral and regional divergence as the U.S. loses momentum in sustainable investments. After the sharp declines in sustainable investment valuations in late 2024, earnings dynamics are now in control, making stock selection crucial,” Chardon explains.

She also highlights that while the U.S. may slow its climate efforts under Trump, global momentum—especially from China and the EU—should keep the transition to green energy moving forward.

“Investors will need to focus on sectors that are less exposed to policy risks and on those aligned with long-term demand for clean technologies, infrastructure, and climate resilience,” she insists.

Europe’s Advantage in ESG Investment

According to Deepshikha Singh, Head of Stewardship at Crédit Mutuel Asset Management, investment prospects remain uneven.

“Investors may witness significant rollbacks in federal climate action and reporting standards. Trump’s pick to lead the SEC, Paul Atkins, has been openly opposed to the SEC’s climate disclosure rules. However, states like California and New York will likely continue setting ambitious climate goals,” Singh states.

Despite this, Singh sees Europe maintaining its leadership in sustainable investment, which could be a key advantage for investors.

“European companies that align with strict ESG regulations could attract more capital, while U.S. companies struggling to meet international standards could face higher costs and reduced access to foreign markets. The alignment of the European financial sector with the Paris Agreement and COP29 goals presents opportunities for those prioritizing green investments.

Additionally, Europe may seek to influence global financial markets by expanding ESG disclosure requirements for internationally operating companies, which could impact U.S.-based multinationals and other global corporations,” Singh explains.

The Future of ESG Investment Amid Political Cycles

For Singh, sustainable investment’s resilience lies in its ability to adapt to political cycles. While she acknowledges that Trump’s policies may pose challenges for some aspects of ESG investing, she sees it as unlikely that the overwhelming global shift toward sustainability will be reversed.

“Investors, driven by both risk management and opportunities, will continue to integrate ESG factors into their portfolios, even in the face of opposition. The demand for transparent and responsible investments will persist, regardless of who is in the White House.

In fact, Trump’s second term could even emphasize the urgency of private-sector leadership in driving the sustainable investment movement in the U.S. and beyond,” Singh concludes.

Jupiter Asset Management Presents Its First Actively Managed Global Sovereign Debt ETF

| For Amaya Uriarte | 0 Comentarios

Jupiter Asset Management has announced the launch of the Jupiter Global Government Bond Active UCITS ETF, the Group’s first exchange-traded fund (ETF), in collaboration with HANetf, a specialist in white-label ETFs.

Jupiter has been exploring new ways to distribute its products and expand access for more clients to its extensive investment expertise. With greater execution flexibility, a high degree of transparency, and competitive pricing, active ETFs offer clients an alternative and democratized entry point. In line with Jupiter’s truly active high-conviction investment management approach, active ETFs also provide investors with the potential for higher returns than traditional passive products.

The Jupiter Global Government Bond Active UCITS ETF, or GOVE, aims to outperform traditional sovereign bond investments by offering a diversified portfolio of developed and emerging market government debt, with low correlation to equities and other risk assets. Due to their complexity, potential for market inefficiencies, and sensitivity to macroeconomic factors, global sovereign bonds represent an ideal asset class for an active ETF.

The fund is managed by Vikram Aggarwal, a sovereign debt investment manager who has been with Jupiter since 2013. The fund’s investment strategy focuses on identifying inefficiencies in sovereign bond market valuations by comparing Jupiter’s perception of the current economic regime with market expectations. This contrarian approach seeks to capitalize on opportunities when there is a significant divergence between perceived and actual economic conditions.

“We are pleased to partner with HANetf for the launch of our first active ETF. We have been exploring new ways to provide clients with access to Jupiter’s extensive investment expertise, and today’s launch is part of that strategy. We know that greater transparency, faster execution, and competitive pricing are driving clients to increase their exposure to active ETFs. We believe Jupiter’s truly active investment approach and differentiated product offering position us very well to grow assets in this exciting new space,” said Matthew Beesley, CEO of Jupiter.

Hector McNeil, Co-Founder and Co-CEO of HANetf, stated: “We are delighted to work with Jupiter on its first active ETF at this pivotal moment for the market. Net inflows into active ETFs from European clients increased by more than 50% between Q1 and Q2 of 2024. Total assets under management in Europe now exceed $41 billion, and as clients increase their allocations, we are seeing very strong growth momentum.”

The DDC Global Investor Summit 2025 Returns to London in March

| For Amaya Uriarte | 0 Comentarios

In its tenth edition, the DDC Global Investor Summit 2025 returns to London on March 12 and 13, 2025, consolidating itself as one of the most outstanding events in the alternative investment industry. The gathering will take place at the iconic Royal Horseguards Hotel, a luxury setting designed to host a select audience of around 200 attendees, including prominent investment funds, institutional investors, and family offices from around the world.

London, the epicenter of alternative investments

London is the perfect venue for this global event, positioning itself as a worldwide hub for alternative investments, with a growing industry and an ecosystem that encompasses private equity funds, private credit, real estate, and hedge fund strategies, consolidating its reputation as a financial epicenter in Europe.

The DDC Global Investor Summit, in this context, stands out as a boutique space where industry leaders share insights on how to build diversified and resilient portfolios in a constantly changing economic environment.

Global perspectives and leading companies on stage

Unlike other events, the DDC offers a comprehensive and global vision of the industry, exploring key markets such as Europe, the United States, and Brazil, with the participation of globally recognized leaders. Among the companies confirmed for the program are high-impact names such as KKR, McKinsey & Company, Oaktree Capital Management, and Adams Street Partners, among others.

Over the course of the two-day event, there will be a total of 20 panels designed to address cutting-edge topics. This year, innovation will be a central element, with the incorporation of specialized 20-minute panels, where experts will share in-depth analyses and insights on key trends in a dynamic and agile manner.

Relevant topics for the alternative investment industry

The panels will cover a wide variety of topics, including ESG investment (integrating sustainability into profitable strategies), distressed debt and NPLs & REOs (exploring opportunities in distressed assets), the future of private credit: trends and strategies for a growing sector, asset-backed lending (new asset-based financing alternatives), and finally, innovative solutions in credit recovery (maximizing recovery in a challenging context).

High-level networking

The DDC Global Investor Summit 2025, in addition to addressing the most relevant topics in the industry, is a unique opportunity to create meaningful connections in the alternative investments sector. Thanks to an exclusive app for attendees, it will be easy to connect with key profiles, schedule meetings, and build high-impact relationships. All this with a user experience designed to maximize efficiency and networking.

The key to success: exclusivity and personalization

According to Paola Ortega, Managing Partner of DDC Financial Group, “the success of the DDC lies in the exclusivity of the gathering. We have seen that the effectiveness of massive events in this industry is increasingly lower, as such high-level profiles must be treated with the personalized attention each one deserves. The great deals that result from these meetings derive from pre-event profiling, ensuring that participants interact at the same executive level.”

Strategic partnership

Funds Society has joined as a Media Partner for these events, and as such, its subscribers have the benefit of a 20% discount on ticket purchases by presenting the discount code: DDCFUNDS20

AIM Summit London Edition 2025: The Leading Alternative Investment Summit

| For Amaya Uriarte | 0 Comentarios

AIM Summit London Edition 2025, one of the most important events for the alternative investment community, will take place from May 19-20. This edition will bring together over 500 fund managers, institutional investors, family offices, sovereign wealth funds and financial associations, as well as more than 70 leading speakers, offering an unrivaled platform for insightful discussions and exceptional networking opportunities.

As a platform that goes beyond traditional boundaries, AIM Summit provides a unique opportunity to explore a wide range of alternative investment classes, including private equity, venture capital, hedge funds, digital assets, fintech, artificial intelligence or blockchain, among other topics.

The summit is designed to provide in-depth analysis on market dynamics, regulatory landscape and investment strategies, ensuring attendees are well prepared to navigate the complexities of the alternative investment space.

📩 For more information, contact: info@aimsummit.com.