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My Investment Path Strengthens Its Wealth Management Team with a New Hire

Photo courtesyTomás Ulloa, Financial Analyst and Wealth Management Assistant at My Investment Path

With the goal of strengthening its wealth management team, the Miami-based RIA My Investment Path hired Tomás Ulloa. There, the executive assumed the roles of Financial Analyst and Wealth Management Assistant.

According to what the company informed Funds Society, Ulloa will specialize in fundamental and technical market analysis through his dual role. His objective will be to develop personalized investment strategies for clients.

Originally from Argentina, the executive brings a bilingual and Latin American perspective to the financial sector, they highlighted. Thus, the professional will play a key role in expanding the company’s business in the region.

The hire strengthens My Investment Path’s advisory team as the RIA continues to execute its strategic plans.

This roadmap includes the expansion of the firm’s capabilities by becoming a broker-dealer. Currently, they detailed, they are working through the regulatory process.

The company offers a variety of wealth management and advisory services, including financial planning, tax strategy, and family office services.

Vanguard and Charles Schwab Crowned with the Lowest Fund Fees in the US

| By Amaya Uriarte | 0 Comentarios

Price competition is intense among the largest fund managers. That is one of the conclusions of the latest version of Morningstar’s US fund fee study, published recently. In a context where management fees continue to trend downward, two investment houses in particular are leading the list of the lowest charges.

According to the Morningstar Manager Research team, the figure that best represents the experience investors have with funds is the asset-weighted average fee. In this case, Vanguard and Charles Schwab boasted the lowest fee last year, at 0.07%.

Vanguard is the classic leader in low fees, but Charles Schwab has also been cutting fees over the years, catching up with the world’s second-largest asset manager. While the former reduced its adjusted average fee from 0.09% to 0.07% between 2020 and 2025, the latter cut it from 0.1% to 0.07% over that same period.

It is worth noting that both companies hold a clear advantage, as the third-ranked manager with the lowest average fee in its vehicles sits 3 basis points higher. State Street closed 2025 with a representative fee of 0.1%, managing to reduce it from 0.16% in 2020.

In fourth place, Morningstar highlighted, iShares recorded a figure of 0.15% last year, noting that “its expansive offering includes more expensive active and niche strategies alongside its flagship low-cost index funds.” In the case of this investment house, the fee dropped from 0.19% over five years.

“As companies compete on costs, investors win, benefiting from an increasingly broad menu of cheap funds that offer extensive market exposure,” the information provider emphasized in its report.

A Long-Standing Trend

The fee numbers in the US mutual fund and index fund industry are just another milestone in a long-term trend that has seen commissions shrink industry-wide.

The average cost ratio paid by investors in 2025 is better than half of what it cost two decades ago. “Between 2006 and 2025, the asset-weighted average fee fell to 0.32% from 0.8%. Investors have saved billions in management fees as a result,” the report emphasized.

The Manager Research team identifies three major drivers behind cost reduction in the industry. On one hand, investors are increasingly aware of the relevance of minimizing investment expenses, which has led them to favor low-cost vehicles. On the other hand, competition in the fund management industry has driven several players to cut fees.

The third pillar, they added, is related to the evolution of advisor dynamics. “The shift to fee-based models for financial advice has been a key factor in the shift toward low-cost funds, share classes, and fund types,” they explained, especially ETFs.

However, Morningstar stressed that these average figures derive from a heterogeneous landscape, where different areas of the mutual fund and index vehicle market are experiencing different phenomena.

At the less expensive end of the spectrum, index mutual funds and ETFs “are approaching a floor, with many already charging less than 0.05%,” they noted. Conversely, in the segment of more expensive strategies, the emergence of active ETFs and alternative strategies “contributes to the launch of higher-priced funds than what was seen before.”

Investor Approval

Beyond differing investor preferences, the study by Morningstar Manager Research shows that fees dictate the pace of fund flows.

Since 2000, they indicated, net flows have trended upward for funds and share classes with fees in the cheapest 20% of their respective categories. Last year, these funds received flows of 694 billion dollars.

In contrast, flows into the remaining 80% of funds were negative in 10 of the past 11 years. In the case of 2025, these vehicles collectively lost a net 244 billion dollars.

“This 939 billion dollar difference in flows is quite large, but it is slightly below the historic 1.2 trillion gap of 2024,” they pointed out.

Along those lines, the information provider emphasizes that its studies reflect that fees are a good predictor of future returns. “Low-cost funds generally have higher probabilities of surviving and outperforming their more expensive peers. It is encouraging to see investors prefer those funds,” they stated in their report.

Sovereign Wealth Funds Surpass 15 Trillion Dollars in Assets

| By Amaya Uriarte | 0 Comentarios

Sovereign wealth funds continue to consolidate their prominence in private markets. According to the Sovereign Wealth Funds Report 2026, prepared by the Center for the Governance of Change at IE University in collaboration with ICEX-Invest in Spain, these vehicles now manage 15.1 trillion dollars in assets globally, compared to 13.2 trillion recorded in the previous edition, representing a 14% increase.

The report, which analyzes the activity of these investors between July 2024 and December 2025, identifies a universe of 109 sovereign wealth funds, five more than in the previous edition. The growth reflects both portfolio revaluation and the creation of new vehicles, particularly in Asia, Europe, and the Middle East.

Beyond asset growth, the study reflects a shift in how these actors invest. During the analyzed period, they participated in 391 direct investment transactions, 17% fewer than in the preceding report. However, the aggregate volume rose to 404 billion dollars, a 91% increase, demonstrating a clear commitment to larger and more transformative operations. “The report shows more concentrated capital: fewer transactions, more impact. Sovereign funds lead most transactions valued at over 1 billion dollars, proving execution capacity,” noted Javier Capapé, editor of the report and director of Sovereign Wealth Research at IE University, during the presentation held at the ICEX headquarters in Madrid.

According to Capapé, the creation of twelve new funds confirms that these vehicles have become a tool for governments to face a more fragmented and less efficient global economy, reinforcing the resilience and strategic autonomy of their countries. The expert also highlighted that investments linked to artificial intelligence now represent one out of every three dollars of the total value of transactions in which sovereign funds participated during the analyzed period.

The CEO of ICEX, Elisa Carbonell, stressed during the presentation that sovereign wealth funds have consolidated themselves as “one of the great actors in international investment” and constitute a source of strategic capital for business growth. In her view, the report provides a better understanding of their investment strategies and facilitates the identification of capital raising opportunities, while confirming the growing interest of these investors in Spain.

Fewer Transactions, but Larger in Scale

The shift in strategy is also reflected in the main transactions closed during the study period. Notable among them are the support from Saudi Arabia’s Public Investment Fund (PIF) for the acquisition of Electronic Arts, valued at 55 billion dollars; the financing of Anthropic, led by QIA (Qatar) and GIC (Singapore), totaling 13 billion dollars; the reorganization of TikTok in the United States with the backing of the Emirati tech fund MGX, supported by Mubadala; and several investments in European energy infrastructure driven by funds from Norwary and Singapore.

The report concludes that sovereign wealth funds have moved from playing a secondary role in private markets to becoming the primary drivers behind many large international operations.

Private Markets Consolidate Sovereign Funds as Reference Investors

The study confirms that these vehicles act increasingly as strategic partners in global private markets. In more than half of transactions exceeding 1 billion dollars, they participate as lead investors, replacing the role they traditionally played as minority co-investors.

Another trend identified by the report is the growing commitment to artificial intelligence and technologies linked to digitalization. Gulf and Singaporean funds are leading this transformation, shifting their portfolios from traditional assets toward companies related to AI, data centers, digital networks, and energy infrastructure.

However, the report also shows that these investors’ ability to anticipate emerging tech companies remains limited. Just 3% of their investments go to companies before they reach unicorn status, reflecting that their function continues to be primarily to back and scale companies that have already proven their viability.

Asia and the Middle East Concentrate Nearly 80% of Global Sovereign Capital

The report highlights once again the high geographical concentration of this type of vehicle. Asia-Pacific and the Middle East pool approximately 79% of sovereign assets under management worldwide, while Europe accounts for 16% of the total. the Americas concentrate around 2% and Africa maintains a share below 1%.

Among the most active funds by number of transactions are Singapore’s Temasek and GIC, alongside Abu Dhabi’s Mubadala. If measured by the economic volume invested, the leadership belongs to GIC, followed by Saudi Arabia’s PIF and Qatar’s QIA. The report also highlights the emergence of new actors, including MGX, Abu Dhabi’s new technology fund, which has driven some of the largest international investments in artificial intelligence.

Europe Bets on Sovereign Funds with a Strategic Focus

The report dedicates a specific chapter to the role of Europe within the sovereign wealth fund ecosystem, where it identifies a clearly differentiated model compared to other regions. With the exception of Norway’s Government Pension Fund Global (GPFG)—which reached 2.1 trillion dollars in March 2026, a figure higher than Spain’s GDP—nearly 80% of European sovereign funds fit the strategic investment funds model; that is, vehicles designed to boost strategic sectors, mobilize private investment, and foster economic development.

Unlike many funds in the Middle East or Asia, the funding sources for these European vehicles do not come from commodity revenues, but rather from fiscal surpluses, stakes in state-owned enterprises, or resources from European Union programs.

In this regard, the study highlights the role played by the Next Generation EU program, whose transfers have served as seed capital for the creation of new sovereign funds in various European countries. The report also analyzes the differences between national models. While economies like France, Spain, or Italy manage multiple public investment structures with distinct functions, Ireland has chosen a unified model centered around the National Treasury Management Agency.

According to the authors of the study, the impact of Next Generation EU is already “solid and measurable.” As an example, they cite the FOCO fund, managed by Cofides, and the recently announced España Crece, which represent a new financing model based on transforming European recovery transfers into sovereign capital. In their view, this mechanism could favor a second wave of European sovereign fund creation between 2026 and 2030.

The Sovereign Wealth Fund Universe Continues to Grow

The Sovereign Wealth Funds Report 2026 expands its coverage this year to 109 sovereign wealth funds, which collectively managed 15.1 trillion dollars in April 2026, up from 104 vehicles and 13.2 trillion recorded in the previous edition. The aggregate increase, close to two trillion dollars, is due to two main factors. On one hand, approximately half of the growth comes from the organic performance of large financial portfolio funds. Norway’s Government Pension Fund Global increased its wealth by 18% to 2.1 trillion dollars; China Investment Corporation (CIC) also grew by 18% to 1.57 trillion; Abu Dhabi’s ADIA advanced 20% to 1.19 trillion; while Kuwait’s sovereign fund increased by 23% to 232 billion dollars. The other half of the growth is explained by the incorporation of new vehicles and methodological adjustments made in the study.

Funds created since 2024 contribute about 350 billion additional dollars to global assets. Notable among them are Danantara from Indonesia; MGX in Abu Dhabi, with an estimated initial wealth of 50 billion dollars; the National Wealth Fund (NWF) of the United Kingdom, with 37 billion; and the new Irish funds FIF and ICNF, which jointly add about 19 billion dollars. Additionally, the report incorporates methodological changes such as expanding the perimeter of the Turkey Wealth Fund (TWF), whose wealth goes from 26.6 billion dollars to 44.7 billion due to modified classification criteria.

New Funds and Greater Geographical Concentration

The study confirms that the geographical distribution of sovereign capital remains highly concentrated. Asia-Pacific and the Middle East bundle approximately 79% of the assets managed by the world’s sovereign wealth funds. Europe represents 16% of the total—although the Norwegian fund alone accounts for 85% of European sovereign assets—while the Americas barely reach 2% and Africa remains below 1%.

The authors also identify several countries preparing to launch new sovereign wealth funds. Portugal approved plans to create its national vehicle in June 2026. Similar initiatives are also advancing in Saint Kitts and Nevis, Kenya, and Canada, where the Canada Strong Fund was approved in April 2026. In contrast, the report notes that the executive order signed in the United States in February 2025 to promote a federal sovereign wealth fund seems to have lost momentum and, for the moment, has not recorded significant progress.

Spain Consolidates Its Appeal for Sovereign Capital

As in previous editions, the report includes a specific chapter dedicated to Spain, noting the growing interest of international sovereign funds in the domestic market. Between July 2024 and December 2025, 18 direct operations were recorded for a combined amount of 6.7 billion euros, equivalent to 7.6 billion dollars. Of these transactions, twelve were carried out by international sovereign wealth funds and six by Spanish vehicles, reflecting both the capacity of the Spanish market to attract long-term institutional capital and the consolidation of domestic public co-investment instruments.

For the second consecutive year, Spain ranks sixth worldwide by economic volume of transactions involving sovereign funds and stands as the second-highest country in the European Union, trailing only Germany. Investments were concentrated in sectors considered strategic for the Spanish economy, such as renewable energy, digital infrastructure, higher education, student housing, technology, and industry.

Among the main operations are investments by Mubadala and Masdar in renewable energy and education; GIC’s bet on infrastructure and student housing; the activity of the Temasek-Keppel ecosystem in data centers; and the first investments made by FOCO in Spanish companies and platforms.

The report also highlights the growing weight of Norway as an investor in Spain. At the close of 2025, the Government Pension Fund Global held positions exceeding 24 billion euros in sovereign and corporate debt, listed equities, and private market assets, particularly infrastructure linked to renewable energy. With this, the study concludes that Spain continues to consolidate itself as one of the main European destinations for international sovereign capital, while developing its own public investment architecture aimed at mobilizing private capital and strengthening strategic sectors.

HMC Capital Forms an Alliance with Neuberger to Expand Global Fund Distribution in Brazil

| By Amaya Uriarte | 0 Comentarios

HMC Capital announced a strategic alliance with the global asset manager Neuberger to expand the offering of international funds in the Brazilian market. Under the agreement, HMC will distribute the manager’s products in Brazil—which oversees nearly 567 billion dollars in assets under management—focusing on institutional and professional investors, according to a statement.

The distribution will span different segments and channels, including pension funds, family offices, wealth managers, asset managers, banks, and investment platforms. The offering will combine strategies across liquid assets and private markets, such as global credit, international equities, and private equity funds.

According to Leonardo Camozzato, Partner and CEO of HMC Capital in Brazil, the alliance seeks to address the evolving demand among local investors for international strategies.

“Brazilian institutional investors are becoming increasingly sophisticated and are looking for differentiated global strategies. Our alliance with Neuberger allows us to expand access to high-quality investment solutions, combining our regional expertise with the capabilities of one of the most respected asset managers in the global market, with a broad offering of liquid and illiquid assets,” he stated.

HMC reports that it has been distributing Neuberger’s funds in other Latin American countries since 2009. With the expansion of this alliance to Brazil, the company aims to make the manager’s entire product range available, including strategies that, according to the company, are seeing growing demand among Brazilian investors.

Carolina Collia, Relationship Manager at Neuberger, highlighted the potential of the Brazilian market and noted that the alliance broadens access to the manager’s solutions.

“Brazil represents one of the most dynamic wealth management markets in Latin America, and HMC Capital has built a solid platform that connects investors with premier global strategies. This agreement offers Brazilian clients access to Neuberger’s range of UCITS funds, covering equities, fixed income, and alternative assets, through a partner with deep local knowledge. This reflects our ongoing commitment to ensuring that clients worldwide can access the strategies best suited to their needs,” she said.

The initiative also plans for the development of local investment vehicles to meet the regulatory requirements for distribution in Brazil, the demand for currency-hedged products, and the specific rules applicable to closed entities for complementary welfare (EFPC) and dedicated social security regimes (RPPS).

About the Companies

HMC Capital: Founded in 2009, HMC operates in the structuring of investment vehicles and access solutions for international managers through its subsidiary Gama Investimentos. The company reports over 25 billion dollars in distributed assets and assets under management, with operations in Brazil, Argentina, Chile, Peru, Colombia, Mexico, the United States, and the United Kingdom.
Neuberger: Founded in 1939, Neuberger is an independent, employee-owned asset manager with approximately 3,000 employees across 26 countries and nearly 567 billion dollars in assets under management, as of March 31, 2026.

ARK Invest Europe Expands Its Alliance with Capital Strategies Partners

| By Amaya Uriarte | 0 Comentarios

ARK Invest Europe has expanded the scope of its distribution agreement with Capital Strategies Partners to incorporate Italy, France, Belgium, Andorra, Monaco, and the Swiss canton of Ticino. Until now, the firm was responsible for the distribution of the manager’s products in Spain, Portugal, and several Latin American markets, such as Chile, Colombia, Peru, and Brazil.

With this expansion, ARK Invest seeks to strengthen its presence in Europe and respond to the growing investor interest in strategies focused on disruptive innovation, relying on a partner with local knowledge of each market.

The extension of the agreement also coincides with the recent expansion of the registration of ARK’s actively managed UCITS ETFs in France and Portugal, as well as the launch of the ARK Private Innovation ELTIF, registered for commercialization in 17 European countries, including Spain, Italy, France, Germany, Belgium, Portugal, Sweden, and the Netherlands.

A Range Focused on Technological Innovation and Private Markets

ARK Invest’s European offering currently consists of four actively managed UCITS ETFs:

ARK Innovation UCITS ETF (ARKK): The firm’s flagship fund with over 11.2 billion dollars in assets globally.
ARK Artificial Intelligence & Robotics UCITS ETF (ARKI): Designed specifically for the European market.
ARK Genomic Revolution UCITS ETF (ARKG)
ARK Space & Defence Innovation UCITS ETF (ARKX)

Added to this offering is the ARK Private Innovation ELTIF, a fund that provides access to innovative private companies before their potential IPO and invests in the five major innovation platforms identified by the manager: artificial intelligence, robotics, multi-omic technologies, blockchain, and energy storage.

All ETFs are actively managed, hold an Article 8 classification under the European SFDR regulation, and carry a management fee (OCF) of 0.75%. In addition, the firm plans to expand the European registration of several funds from the RIZE by ARK Invest range, specialized in sustainable and impact thematic investing, before the end of the year.

Expansion Part of ARK’s Growth Strategy in Europe

The expansion of the agreement is part of ARK Invest Europe’s international growth strategy, which began with the launch of its UCITS ETFs in 2024 and has surpassed 1 billion dollars in assets under management in Europe this year. Globally, the firm manages nearly 30 billion dollars, of which around 1.2 billion corresponds to the European business and some 2.5 billion to private market strategies.

Stuart Forbes, Director of ARK Invest Europe and Global Head of Distribution, notes that the broader collaboration will provide European clients with greater access to both listed strategies and private market investments. “This expansion allows us to directly serve a much larger number of clients, with local on-the-ground support and access to our research and forward-looking products,” he states.

For his part, Daniel Rubio, founder and CEO of Capital Strategies Partners, highlights that ARK’s active and research-driven investment philosophy is being well received by investors. In his view, the expansion of the agreement will bring a differentiated offering of UCITS ETFs and the ARK Private Innovation ELTIF closer to clients in these new markets, reinforcing both entities’ commitment to distributing innovative, high-quality strategies.

Yves Bonzon (CIO of Julius Baer): “Semiconductors or No Semiconductors? That Was the Question”

| By Amaya Uriarte | 0 Comentarios

The first half of 2026 has left a clear conclusion for global investors: artificial intelligence has continued to set the pulse of the markets, but with an important nuance. According to the weekly analysis by Yves Bonzon, Chief Investment Officer (CIO) of Julius Baer, during these six months, the key to beating the market was being positioned in the right segment of the tech universe. “In short, the first half of 2026 was clear: either you held semiconductor stocks—but not just any stock—or you didn’t,” Bonzon summarizes in his latest CIO Weekly.

The firm explains that the stock market rally has not been led by the traditional US megacap tech giants, but rather by companies more specialized in DRAM memories and NAND chips linked to the development of artificial intelligence infrastructure. In fact, the SOX semiconductor sector index has skyrocketed by nearly 100% in just three months, consolidating itself as the main engine of global stock markets.

However, one of the surprises of the year has been that, despite the increased cost of capital for major US cloud computing companies—one of Julius Baer’s central investment theses for this year—the US market has not suffered a significant correction. According to Bonzon, leadership has broadened, and gains “no longer depend solely on the Magnificent Seven, but on a wider universe of companies benefiting directly or indirectly from the AI investment cycle.”

In this context, the financial institution believes that a structural change has occurred in the markets, forcing a rethink of portfolio construction. “We have entered an industrial cycle in which a larger number of smaller players benefit from structural trends such as artificial intelligence, electrification, or strategic autonomy,” Bonzon points out. For this reason, Julius Baer considers that diversification is once again becoming an essential source of return generation, in addition to being a classic risk control tool.

Another element that has marked the first half of the year has been the unexpected strength of the US dollar. Contrary to the bearish market consensus, Julius Baer never abandoned its positive outlook on the US currency against the rest of the G7 nations. As Bonzon explains, the geopolitical conflict between the United States and Iran, renewed investor enthusiasm around AI, and Kevin Warsh taking the helm of the Federal Reserve have reinforced the appeal of the dollar and US fixed income.

This view has also led the institution to reduce its exposure to gold during the second quarter. After starting the year with strong gains, the precious metal corrected sharply and has accumulated drops of 7% so far this year, after registering declines of over 10% in June alone.

Looking ahead to the second half of 2026, Julius Baer maintains a cautious approach. Although it recognizes that artificial intelligence will continue to be the main market catalyst, it warns of the growing risk of over-concentration in specific technology segments. Bonzon stresses that “markets are increasingly dependent on a small number of very powerful narratives, while the outcomes remain highly uncertain.”

Consequently, the entity recommends avoiding extreme positions and paying closer attention to sectors that have been less explored recently, such as defensive consumer goods or healthcare, whose relative valuations have become more attractive after several quarters of being eclipsed by the tech boom. “This is not a time for extreme stances, but for humility and the discipline of diversification,” the Julius Baer CIO concludes.

Partners Group Invests in Avenue Capital Group’s Global Commercial Aviation Leasing Portfolio

| By Amaya Uriarte | 0 Comentarios

Partners Group, a leading global private markets firm, acting on behalf of its clients, and Avenue Capital Group, a global investment firm, have announced that Partners Group’s infrastructure secondaries strategy has invested 250 million dollars in Avenue Capital Group’s global commercial aviation leasing portfolio (the “Portfolio”).

According to Partners Group, the investment represents one of the largest transportation deals executed to date by Partners Group’s infrastructure secondaries strategy.

Partners Group is the sole lead investor in a multi-asset continuation vehicle of approximately 360 million dollars, created by Avenue Capital Group to acquire the Portfolio. Avenue Capital Group’s aviation team will continue to manage the assets, according to details provided by the companies in the agreement.

As revealed by both entities, the Portfolio is composed of 69 mid-life aviation projects, including narrow-body, wide-body, and regional jets. The lessee base is diversified among 30 airlines distributed across multiple geographies, including Asia, Western Europe, and North America.

“The majority of the Portfolio’s cash flows are secured through contracts, providing stable and predictable income. Furthermore, the structure seeks to maximize asset value upon lease expiration, whether through re-leasing, aircraft sales, or part-out operations,” Partners Group detailed.

The commercial aviation leasing market benefits from several positive structural factors, including a persistent shortage of new aircraft due to production delays, which is shifting the sector’s reliance toward mid-life aircraft and spare parts. Additionally, aircraft engines are increasingly being used in alternative industrial applications, boosting demand for legacy engines, sustaining their residual value, and further tightening supply.

Jeremy Semble, Head of Infrastructure Partnership Investments Americas at Partners Group, stated: “Aircraft leasing is a growing segment within the infrastructure asset class. The Portfolio is asset-intensive, features contractual cash flows, and presents high barriers to entry derived from significant capital investment and maintenance requirements. This fits perfectly with our infrastructure secondaries strategy, where we seek to offer investors diversified exposure to sectors with resilient demand and strong growth potential. We are pleased to partner once again with Avenue Capital Group, which has positioned the Portfolio very strongly in the current market environment.”

For his part, Marc Lasry, co-founder and CEO of Avenue Capital Group, noted: “This new continuation vehicle has provided our existing limited partners with an attractive liquidity option and has allowed us to partner once again with Partners Group through this structure, offering them exposure to our robust portfolio of aviation projects built over the last decade. Our Aviation team, led by Senior Portfolio Manager Shawn Foley, looks forward to continuing to capture the value of the projects within the Avenue Kite Continuation Fund LP in a market environment that is favorable for these types of assets.”

Partners Group’s Infrastructure Partnership Investments business focuses on LP-led portfolios, GP-led investments, and complex situations globally across high-conviction themes. Since 2006, the firm has completed more than 70 infrastructure secondaries transactions. It is currently raising its latest infrastructure secondaries program, which includes a closed-ended fund and co-investment mandates.

In the transaction, Partners Group was advised by Ropes & Gray, while Avenue Capital Group was advised by Latham & Watkins and Perella Weinberg Partners.

eToro Launches New App: AI as the Core, Social and Intelligent

| By Amaya Uriarte | 0 Comentarios

eToro, the trading and investment platform, has presented its new mobile app at its Intelligence in Motion event in London. eToro takes another step forward with this application to be present wherever investors are. The company shared new features such as trading with agents and sub-accounts, a new desktop platform for active traders, a constantly growing app store, and new tools for crypto-asset self-custody. The expectations of retail investors have evolved. They are looking for an intelligent, accessible investment experience tailored to their needs—an experience that proactively provides them with relevant information when they need it most, rather than having to search for it on their own. eToro’s new app responds to this demand. At its core is Tori, eToro’s proactive AI agent, which works alongside the collective knowledge of eToro’s community of millions of users. Together, they offer investors a human perspective powered by AI.

Yoni Assia, co-founder and CEO of eToro, stated the following about the new AI app: “Our AI is based on the real decisions and history of millions of investors. An intelligence that is difficult to replicate.” “By combining AI with our community, we help people invest with greater knowledge and confidence. For nearly two decades, we have worked to give everyone a voice and a choice; this is the next step.”

At the London presentation, the eToro team revealed the specific features of this app:

Reimagining Investment and Wealth Management

When it comes to reimagining investment and wealth management, the app positions itself as the central hub, redesigning the mobile interface to offer clearer portfolios, advanced charts, and an experience fully adapted to each user’s strategy. Proactive analysis is introduced with Tori, a virtual assistant that analyzes portfolios autonomously and breaks down the reasons behind price movements right when they are needed. This tool expands under the concept of “Tori wherever you are,” allowing investors to check the performance of their assets via WhatsApp or Apple Watch without needing to open the main application. The platform incorporates a sub-account for each goal, making it easier for users to independently organize and manage milestones like long-term retirement or their children’s education. The system offers more precise, custom-tailored data, granting professional-grade charts and technical analysis tools that are customizable according to the investor’s interests.

Enhanced Trading Capabilities

Regarding enhanced trading capabilities, the strategy continues with the implementation of eToro Edge, a high-performance desktop application specifically for high-frequency traders equipped with superior charting tools. It also incorporates AI agent-driven portfolios, a system that allows users to create or copy automated agents that trade in the markets 24/7 under the constant control of the investor.

A Constantly Growing Ecosystem of Applications

The firm boosts a third-party app ecosystem through the eToro App Store, a space where contributors, quantitative experts, and external developers can add technical analysis tools through a new, structured API portal.

Preparing for the Future on the Blockchain

Instant self-custody portfolios managed directly by Tori are enabled, integrating Zengo’s decentralization technology. This allows for direct ownership of crypto-assets securely, in seconds, and without friction. Finally, this entire technological rollout is crowned with a renewed brand identity featuring a new logo, a contemporary visual design, and the corporate slogan “Know better,” reaffirming the broker’s commitment to transparency and informed financial decision-making.

A Renewed Brand Identity

“Trading with agents is accelerating, and our App Store is growing rapidly. The world of finance is in constant evolution, and for two decades, at eToro we have known how to anticipate every major transformation: from social investing to crypto-assets, and now AI. At every stage, we have put that technology at the service of individual investors to create a more level playing field for everyone,” Yoni Assia concludes.

Global M&A Activity in the Financial Sector Grows Again in the First Half of 2026

| By Amaya Uriarte | 0 Comentarios

Following the peak reached last year—the highest level of the last decade—M&A (mergers and acquisitions) deals announced or completed in the global financial services sector continued to increase in the first half of this year, recording a 3% year-on-year increase in reported transactions, according to EY’s latest financial sector M&A analysis.

Banks, insurers, and asset managers from the world’s main financial markets made 1,137 deals public in the first half of 2026, compared to 1,101 in the same period of 2025. However, the total disclosed value for global financial transactions decreased, dropping from 191.3 billion dollars in the first half of 2025 to 134.5 billion dollars in the first half of 2026. There were 25 “megadeals” announced with a value exceeding 1 billion dollars, which accounted for 80% of the total transacted value. This contrasts with the 37 deals above that figure in the first half of 2025 and the 55 in the second half of 2025.

During the first half of 2026, the 10 largest deals represented 58% of the total value (78.7 billion dollars). If we widen the focus to the top 20, these accounted for 75% of the total value (100.5 billion dollars). These figures are fully consistent with those from the first half of 2025, where the 10 largest transactions concentrated 58% of the total value (111.3 billion dollars) and the top 20 accounted for 72% (138.3 billion dollars).

Omar Ali, EY Global Financial Services Leader, comments: “Financial services firms have already adapted to operating under greater uncertainty as the norm, embedding volatility into their usual activity. But unpredictability has an impact, and this is intensified by slower global economic growth, rising inflation, and continuous supply disruptions. For this reason, even though the number of transactions has increased, the value of deals in the first half of this year in the main world markets sits below 2025 levels, as significantly fewer deals have closed above the 1 billion dollar barrier.” On the other hand, he also adds: “Nonetheless, despite market challenges, confidence is stabilizing and boards of directors are eager to accelerate the execution of their strategic plans. Looking ahead to the second half of 2026, we expect a rebound in M&A activity, as banks, insurers, and asset managers increasingly turn to M&A to achieve transformation and competitive growth.”

Financial M&A Balance in the First Half of 2026 – Europe

Across Europe, M&A activity increased in the first half of 2026, with a 7% year-on-year increase in the number of publicly announced deals, reaching 375 transactions compared to 350 in the first half of 2025. However, the total disclosed value fell from 74.9 billion dollars in the first half of 2025 to 63.9 billion dollars in the same period of 2026.

Regarding the sector breakdown within European financial markets, performance was uneven. On one hand, banking and capital markets deals decreased from 96 in the first half of 2025 to 88 in the first half of 2026, additionally suffering a very notable drop in value, which went from 50.7 billion dollars to 19.3 billion dollars. On the other hand, the insurance sector in Europe experienced an inverse trend in volume, with transactions increasing from 146 to 153, although the total value of these deals was reduced from 21.6 billion to 13.4 billion dollars. Finally, the wealth and asset management segment stood out with strong growth, moving from 108 to 134 deals; in this case, the transacted value climbed spectacularly from 2.6 billion dollars to 31.1 billion, an increase that was mostly driven by a single transaction valued at 13.4 billion dollars.

Concurrently, cross-border flows showed great dynamism, as the number of non-European firms acquiring targets in Europe increased from 56 in the first half of 2025 to 67 in the first half of 2026, while the total revealed value grew significantly, rising from 15.2 billion dollars to 24.3 billion dollars. Meanwhile, the number of European firms acquiring targets in other foreign markets remained completely stable at 31 deals in both periods, although the total disclosed value increased substantially from 500 million dollars in the first half of 2025 to 16.3 billion dollars in the first half of 2026.

Financial M&A Balance in the First Half of 2026 – North America

In the United States and Canada, M&A activity increased in the first half of 2026, with an 8% year-on-year increase in the number of public deals, totaling 546 transactions compared to 504 in the first half of 2025. The total value of reported deals, however, decreased materially, falling from 91.8 billion dollars in the first half of 2025 to 48.5 billion dollars in the first half of 2026, primarily due to a decline in large-cap deals, which went from 19 in the first half of 2025 to just 8 in the same period of 2026.

When analyzing North American markets by sector, the general trend showed an increase in volume activity but with a widespread retreat in values. First, banking and capital markets deals increased from 123 in the first half of 2025 to 146 in the first half of 2026, though their value contracted by half, dropping from 62.6 billion to 30.1 billion dollars. Second, transactions in the North American insurance sector fell in both volume and value, decreasing from 204 to 187 deals and from 20.9 billion to 12.3 billion dollars, respectively. Lastly, in the field of wealth and asset management, the number of agreements advanced solidly, moving from 177 to 213 deals, although the economic value of these transactions was slightly reduced from 8.3 billion to 6.0 billion dollars.

In terms of international deals for this region, the number of firms from outside the US or Canada acquiring American and Canadian targets increased from 23 in the first half of 2025 to 30 in the first half of 2026, and the total value of these deals rose significantly from 4.8 billion dollars to 15.9 billion dollars. Likewise, the number of US and Canadian firms acquiring targets in other markets remained unchanged at 70 agreements in both half-year periods, while the total value of outbound investment increased from 12.8 billion dollars in the first half of 2025 to 19.8 billion dollars in the first half of 2026.

Financial M&A Balance in the First Half of 2026 – Asia and Oceania

In the Asia and Oceania markets, M&A activity decreased in the first half of 2026, recording a 14% year-on-year drop in the number of public transactions, with a total of 147 deals compared to 170 in the first half of 2025. The total value of transactions decreased moderately, going from 17.8 billion dollars in the first half of 2025 to 15.8 billion dollars in the first half of 2026.

“Global financial sector M&A is even more resilient than the headline figures for this first half suggest. In the last six months, mid-market and small-cap activity proved robust—supported by sustained private equity activity—and the deal pipeline for the second half of 2026 is solid. The drop in total transacted value is concentrated in the highest segment of the market, where fewer ‘megadeals’ went through, masking a robust underlying momentum,” comments Andre Veissid, EY-Parthenon Global Financial Services Industry Leader. Additionally, he adds: “Looking ahead to the second half of this year, structural and market dynamics point to a more constructive environment. Deal logic has shifted from a focus on costs to a focus on growth, and while geopolitical tensions persist, the market has shown it can absorb uncertainty. However, the window of opportunity—particularly in the US, where the current regulatory environment is increasingly growth-friendly and enabling—is likely temporary, so firms considering M&A for a strategic transformation would do well to act in the short term.”

Lastly, sector behavior in the main financial markets of Asia and Oceania was marked by an almost generalized contraction. On one hand, banking and capital markets deals decreased from 87 in the first half of 2025 to 77 in the same period of 2026; however, this was the only sector in the region that increased its value, moving from 6.4 billion to 11.3 billion dollars. On the other hand, insurance transactions decreased from 41 to 31 deals, with their value also shrinking from 5.0 billion to 2.1 billion dollars. In a similar vein, the wealth and asset management segment suffered a setback, falling from 42 to 39 deals, with a very significant drop in total transacted value, which plummeted from 6.5 billion dollars in the first half of 2025 to just 2.40 billion dollars in the first half of 2026.

Regarding outbound transactions in Asia and Oceania markets, the number of firms from outside the region acquiring local targets increased from 23 in the first half of 2025 to 28 in the first half of 2026, with their value increasing slightly from 1.6 billion dollars to 1.9 billion. Conversely, the number of firms from Asia and Oceania acquiring targets in other international markets remained stable at 14 deals in both periods, although the total revealed value suffered a massive drop, falling from 11.8 billion dollars in the first half of 2025 to just 1.1 billion dollars in the first half of 2026.

Stuart Cameron Appointed Director of Distribution for EMEA at Investors Trust

| By Amaya Uriarte | 0 Comentarios

Photo courtesyStuart Cameron, Head of Distribution for EMEA

Investors Trust has announced the appointment of Stuart Cameron as Director of Distribution for EMEA, reinforcing the company’s long-term commitment to advisors and distribution partners across the region. Based in Dubai, Stuart will lead distribution activities throughout the zone and will work in close collaboration with advisors and partners to support the regional distribution strategy and relations with the firm’s institutional clients.

Stuart brings more than 25 years of experience in sales, business development, and international distribution within the financial services sector. Throughout his career, he has held senior roles in business development and distribution at firms such as HSBC Global Asset Management, Aberdeen Standard Investments, Alkhair Capital, and Klay Capital. Having lived and worked in the United Arab Emirates (UAE) for the past 18 years, Stuart combines a deep regional understanding with the experience gained at both global and regional institutions, providing a solid foundation to support the ongoing development of Investors Trust in EMEA.

Commenting on his appointment, Stuart Cameron noted: “My immediate priority is to listen and learn, both from our teams and from our partners across the region. Strong alliances are built on trust, transparency, and consistent execution, and those principles will continue to guide how we work together. My focus will be on consolidating the strong foundations already established in EMEA and continuing to position Investors Trust as a long-term strategic partner, supporting advisors as their businesses and clients evolve.”

Regarding the appointment, Ariel Amigo, Global Head of Marketing and Distribution at Investors Trust, stated: “Stuart’s experience in global and regional financial institutions, combined with his deep knowledge of the EMEA market, places him in an exceptional position to support our advisors and distribution partners. This appointment reflects our ongoing commitment to the region and our confidence in the long-term potential of both the market and the advisors we support.” Stuart succeeds Phil Story, who spent more than 12 years at Investors Trust and played a pivotal role in the company’s growth in EMEA. Investors Trust thanks Phil for his contribution to the business and wishes him the greatest success in the future.

About Investors Trust

Investors Trust is an international insurance company specializing in unit-linked insurance solutions designed to support long-term wealth accumulation, retirement planning, and international investment strategies for globally mobile investors. Through its international structure and diversified investment architecture, Investors Trust collaborates with advisors and distribution organizations across multiple jurisdictions worldwide.