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

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.

How Active ETFs Are Transforming Fund Fees

| By Amaya Uriarte | 0 Comentarios

Investors saved nearly 6.8 billion dollars in fund-related expenses last year, according to an estimate in Morningstar’s 2026 US Fund Fee Study report, which analyzes data from 2025. “Any reduction in fees represents a major advantage for investors, as fees compound over time and drag down returns,” the study explains.

All broad indicators for US fund fees declined once again. Morningstar’s database on US open-end mutual funds and ETFs reveals that the asset-weighted average expense ratio was 0.32% in 2025, representing a 5.6% decline compared to 2024.

Among other conclusions, the report highlights that ETFs are considerably cheaper than mutual funds—both the equal-weighted and asset-weighted average fees for ETFs stood at around half of the fees charged by mutual funds, respectively—and that the fee gap between new mutual funds and new ETFs had been narrowing for years, but it widened in 2025. “The launch of a few high-cost mutual funds pushed the average cost of new mutual funds back above 1% for the first time since 2015. Recently launched ETFs are also more expensive than they used to be, reflecting the proliferation of complex and high-cost strategies being incorporated into the ETF structure,” the report notes.

The asset-weighted average represents a more accurate picture of the costs borne by fund investors, as it approximates what investors actually paid, on average, in fees for the funds they invested in. For instance, the asset-weighted average expense ratio for active US equity funds was 0.58% in 2025, compared to the 1% obtained when calculating an equal-weighted average for this group. Funds with expense ratios above 1% accounted for a small portion of the assets invested in active US equity funds at the end of 2025, according to the study.

When analyzing new fund launches and their costs, the report outlines two trends:

ETFs remain the preferred vehicle for both investors and providers.
Relatively expensive launches offer better business opportunities than cheaper funds.

Active ETFs Set the Trend

The combination of these two trends results in the proliferation of actively managed ETFs. In 2025, there was a surge in active ETF launches: out of the 1,131 exchange-traded funds created last year, 950 were actively managed. However, many of them do not entirely fit the traditional characteristics of active ETFs, according to the study. While there were some new low-cost ETFs managed by fundamental active managers, the vast majority of new launches “venture into territory that traditional major players do not typically explore.”

Smaller ETF providers, backed by white-label ETF firms, have flooded the market with a wide range of niche products. These ETFs feature novel risk/return profiles and generally do not face competition from the largest ETF managers. Vanguard, iShares, and State Street do not offer funds in the “leveraged equity” category. State Street and iShares do offer derivative income ETFs, but their presence in that category is limited.

Funds in these categories usually charge higher fees than those in more traditional categories, such as equities or bonds. Given that fees are a major source of revenue for asset managers, it is easy to understand why some firms are leaning into these higher-cost segments. Success in ETFs is difficult to achieve, but managing to do so with relatively expensive ETFs can yield substantial windfalls for their sponsors. These categories have not experienced the fee competition that has long been seen in other areas.

Which Active ETFs Will Succeed?

Active ETFs face an uphill battle. Although they could throw a lifeline to mutual fund managers suffering from asset outflows, it is impossible to fight against broad trends. Investors have overwhelmingly preferred cheap and predominantly passive funds.

Moving a mutual fund strategy into an ETF or adding an ETF share class may drum up interest for a while. However, based on the report’s data, in the long run, “other factors will determine a fund’s staying power,” notes Zachary Evens, Manager Research Analyst at Morningstar. Performance matters, but trends show that for active funds to succeed, they must be cheap. Consequently, it remains to be seen whether the emergence of novel and relatively expensive ETFs will be enough to reverse the long-term trend of investors paying less and less for their funds year after year, according to the expert.

What Will Be the Most Consequential Change for the Global ETF Industry?

| By Amaya Uriarte | 0 Comentarios

Photo courtesyAndrea Murray, Vice President of ETF at BBH; and Tim Huver, Head of US ETF Servicing at BBH

The global ETF industry has left behind the phase where it had to prove the utility of its structure. With global assets nearing 20 trillion dollars, innovation is no longer focused on blindly expanding the market, but rather on sophisticated ETF structures to offer solutions that were previously exclusive to traditional mutual funds or private banking.

Which product innovation will gain the most traction? Experts from Brown Brothers Harriman (BBH) point to three key trends: Europe, digital assets, and fixed income.

In the opinion of Andrea Murray, Vice President of ETF at BBH, in the case of Europe, the entry of new participants into the ETF market will continue at a double-digit pace as asset managers expand distribution and innovate to meet investor demand.

“Unlike other regions, market entry will depend heavily on white-label providers: established brands will prefer flexible and modular services, such as distribution platforms and capital markets offerings, while smaller or lesser-known managers, including US RIAs, will continue to rely on comprehensive solutions. As the ETF issuer base grows in Europe, targeted digital education and marketing will remain the main drivers of retail and wholesale asset growth,” she argues.

For Patrick Farrell, ETF Product at BBH, the future of the industry involves digital assets. According to his forecast, Bitcoin ETFs will record record inflows in 2026. “As Bitcoin consolidates its role in institutional portfolios, ETFs have emerged as the preferred vehicle to gain exposure, offering liquidity, transparency, and ease of access. Increased availability on platforms and regulatory clarity will further reduce barriers, driving adoption among both retail and institutional investors,” he states.

According to his view, after underperforming major indices in 2025, investors may find value in an allocation to Bitcoin, backed by macroeconomic tailwinds and its growing utility as a diversification tool.

Lastly, Tim Huver, Head of US ETF Servicing, maintains that the greatest growth in the industry in 2026 will come from fixed-income ETFs, both in the number of launches and cash flow. “ETF product development will continue to evolve with ‘all-in-one’ portfolio solutions and multi-asset products, gaining a greater share of attention and capital in the retail market, providing professional portfolio management through model portfolio-type ETFs,” Huver argues.

Latin America Returns to the Global Funds Radar: The Selective Return of Investment to Emerging Markets

| By Amaya Uriarte | 0 Comentarios

For more than a decade, Latin America was a relegated region in the asset allocation strategies of major international funds. Slow economic growth, political volatility, the depreciation of several currencies, fiscal problems, and the extraordinary performance of US stock markets significantly reduced Latin American participation within global portfolios.

Today, the landscape is beginning to change. Not because asset managers have decided to return to the region en masse, but because the new global economic map is forcing a rethink of where to invest in the coming years.

The reorganization of global supply chains, the race to secure critical minerals for the energy transition, the growing demand for infrastructure for artificial intelligence, and the search for assets with more attractive valuations are returning prominence to various Latin American markets.

“The opportunity is no longer Latin America as a bloc; it is national stories with different structural drivers,” agree investment strategists from various international financial institutions.

The United States no longer concentrates all the opportunities. After several years of strong gains on Wall Street, numerous managers consider that many US stocks are trading at historically high multiples. At the same time, economic growth in several developed economies shows signs of moderation, while uncertainties associated with interest rates, international trade, and geopolitics persist.

In this context, some fund managers look to diversify into markets that offer better valuations, strategic resources, and opportunities linked to long-term structural changes. It is not about abandoning the United States, but rather about complementing portfolios with regions whose correlation is different and whose growth drivers respond to different global trends.

The BlackRock Investment Institute itself recently modified its general stance toward emerging markets, reducing its recommendation on equities and debt denominated in hard currency. However, it maintained a favorable view for specific segments of Latin America, particularly those linked to infrastructure for artificial intelligence and real assets.

Mexico: The Great Beneficiary of Nearshoring

Within the Latin American universe, Mexico continues to occupy a privileged position. The nearshoring of production chains has consolidated the country as one of the main recipients of manufacturing investment destined to supply the US market.

The manufacturing of electric vehicles, auto parts, medical devices, semiconductors, electrical equipment, and electronic components has increased the demand for industrial parks, logistics, energy, and infrastructure.

For international funds, this represents opportunities that transcend stock market equities. It also opens up space to invest in: industrial Fibras (REITs); infrastructure funds; energy; data centers; logistics and private debt.

Various institutions consider that the institutional strength derived from the United States-Mexico-Canada Agreement (USMCA) continues to be one of Mexico’s greatest differentiators compared to other emerging markets.

Brazil: High Rates and Commodities

Brazil represents a different story. Its main appeal combines one of the most developed financial markets in the region with an enormous exposure to commodities such as iron, oil, agribusiness, pulp, and biofuels.

Added to this is a fixed income market that continues to offer some of the highest real yields in the world, a situation that has maintained international investor interest in sovereign and corporate bonds.

If the rate-cutting cycle consolidates over the coming quarters, various analysts believe that Brazilian equities could benefit from an expansion in valuations, especially in sectors linked to domestic consumption and infrastructure.

Argentina: From Skepticism to Interest

Perhaps no country has changed investor perception as much as Argentina. The macroeconomic stabilization measures, fiscal adjustment, and the reform program driven by the government of Javier Milei have begun to alter the view of numerous international funds.

Although risks remain high, especially due to the political calendar and debt refinancing needs projected for 2027, several rating agencies and asset managers recognize a substantial improvement compared to the scenario observed just two years ago. Interest is concentrated particularly on energy; mining; lithium; infrastructure; agribusiness.

Chile and Peru: The Bet on Critical Minerals

If there is a structural trend that is redefining global investment flows, it is the energy transition. The electrification of transport, the development of batteries, smart grids, and data centers require enormous amounts of copper and lithium.

In this scenario, Chile and Peru occupy a privileged position. Chile continues to be one of the world’s leading copper producers and a fundamental player in the lithium chain, while Peru maintains a strategic position in copper, silver, and other minerals essential for the energy transition.

More than a cyclical bet, numerous funds consider these assets as investments linked to a megatrend that could extend for several decades.

Valuations Matter Again

Another element explaining the renewed interest in Latin America is the valuation differential. While some developed markets trade near historical highs, numerous Latin American companies maintain considerably lower multiples.

This has aroused the interest of managers specialized in value strategies, who look for assets whose price does not fully reflect their growth potential. However, the opportunity is not without risks because the region continues to face significant challenges such as low potential growth; limited productivity; political uncertainty; fiscal vulnerability and dependence on the commodity cycle.

The World Bank estimates that Latin America will grow moderately over the next two years, supported by better financial conditions and lower inflationary pressures, though it warns that investment and productivity remain the main structural challenges.

The conclusion is clear. Latin America is not experiencing an indiscriminate return to global portfolios; what is happening is more sophisticated. Large asset managers no longer view the region as a homogeneous bloc, but rather as a set of differentiated opportunities.

Mexico represents advanced manufacturing and nearshoring. Brazil offers attractive fixed income, energy, and commodities. Argentina symbolizes a high-risk bet with revaluation potential, while Chile and Peru concentrate exposure to critical minerals indispensable for the energy transition.

For international funds, the question is no longer whether it is advisable to invest in Latin America, but in which country, in which sector, and under what strategy to do so.

This change of focus could mark the beginning of a new stage for Latin American capital markets: one in which the region’s appeal will depend less on the global economic cycle and more on its capacity to offer projects, sectors, and assets aligned with the major transformations of the world economy.

J. Safra Sarasin Acquires 100% of Saxo Bank

| By Amaya Uriarte | 0 Comentarios

Photo courtesyKim Fournais, CEO of the institution.

Bank J. Safra Sarasin has announced an agreement to acquire the remaining stake in Saxo Holding AG, equivalent to 28.69%, through the execution of a call option. With this operation, the financial institution takes over 100% of the capital, while Kim Fournais will remain at the helm of Saxo Bank’s board of directors. Upon completion of the transaction, Bank J. Safra Sarasin will own 100% of Saxo Holding AG and, indirectly, Saxo Bank, reinforcing the bank’s long-term ownership structure while ensuring continuity for clients, partners, and employees.

Backed by the strength of J. Safra Sarasin Group, Saxo Bank will have all the necessary resources to accelerate its growth and development, further consolidating its position as one of the leading players in online investing. Saxo Bank will continue to operate as an independent entity. Kim Fournais will continue to contribute to Saxo Bank’s long-term success as chairman of the board of directors. Saxo Bank maintains strong commercial momentum and expects to present the best half-year results in its history as of June 30, 2026, driven by continued growth in the number of clients and assets under management.

Jacob J. Safra, Chairman of J. Safra Sarasin Group, noted: “Kim Fournais has built an exceptional business, and his entrepreneurial spirit and unwavering commitment have made Saxo a global leader in digital investing. This milestone reflects our long-term vision, and we are committed to preserving Saxo’s unique strengths while supporting its next phase of sustainable growth.”

“Today’s announcement is fully aligned with the vision agreed upon with J. Safra Sarasin and represents the natural next step in Saxo’s evolution. Building Saxo over the past three decades has been the privilege of my professional life, and I look forward to continuing to support its strategic direction,” added Kim Fournais, Chairman and Founder of Saxo Bank. The closing of the transaction is subject to customary regulatory approvals. The financial terms of the operation remain confidential.

M&G Hires Vince León for Its US Offshore and LatAm Distribution Team

| By Amaya Uriarte | 0 Comentarios

M&G Investments has appointed Vince León as Senior Sales Manager, reinforcing its US Offshore and Latin America distribution team as it continues to expand its presence in the region. Based in Miami and reporting to Ander López, Sales Director for LatAm, Vince León will work closely with financial advisors, private banks, wirehouses, and independent broker-dealers active in the US Offshore market, helping clients access M&G’s range of investment solutions across public and private markets.

Vince León has more than 20 years of investment distribution experience in the Americas region. He joins M&G from Voya Investment Management, where he served as Senior Vice President and Senior Regional Director for the US Offshore region. According to the asset manager, this appointment reflects the continued growth of the M&G Americas and Latin America business, driven by increasing demand from both wholesale and institutional clients, particularly Latin American pension funds.

M&G currently has approximately 4 billion US dollars in assets under management in its Americas business, which encompasses institutional and wholesale clients served from its Miami and Chicago offices. This growth reflects the firm’s strong relationships with leading financial institutions, private banks, intermediaries, and institutional investors throughout the region.

“We are pleased to continue expanding our presence in the US Offshore and LatAm markets by bringing in top-tier talent. Vince’s valuable experience, extensive industry network, and deep understanding of the US Offshore market will help further strengthen our presence as we continue to grow the business in the region and connect with clients seeking investment opportunities in both public and private markets,” said Ignacio Rodríguez, Head of Distribution for the Americas at M&G Investments.

Ten Tips for Donating Effectively After the Earthquake in Venezuela

| By Amaya Uriarte | 0 Comentarios

It has already been a week since the devastating earthquakes recorded in Venezuela that have broken everyone’s hearts. Faced with this humanitarian emergency, many are wondering how to help. From Fundación Lealtad, a Spanish entity belonging to the International Committee on Fundraising Organizations (ICFO), they remind us that, in this context, “channeling solidarity through organizations with experience and operational capacity on the ground is fundamental for aid to reach those who need it most quickly and effectively.”

From Fundación Lealtad, they share this guide of best practices to make donations more efficient:

What You Should Always Do

Inform yourself before donating. Learn about which needs have to be covered, what is required, who is taking action, and how. Depending on the type of emergency and its evolution, different actions will be necessary, and needs may vary.

In-kind donations. Before organizing a collection for any material, ask if the organization accepts that type of donation. Collecting, sorting, and shipping materials is a complex process, and sending unneeded materials complicates management during times of crisis. In many cases, specialized NGOs or foundations already have pre-packaged humanitarian aid materials ready.

Secure donations. Donations in emergency cases must have the same security guarantees regarding electronic transactions, privacy, and data protection as at any other time. Demand them.

Experience/Presence. Make sure that the NGO or foundation you are donating to has experience in the field it works in. In addition to being able to act diligently and quickly, experience contributes to the efficient use of funds. It is also important to ensure that the organization is present in the area to be assisted.

Decide which activities you want to support. In emergencies, resources of different types and at different times are needed: food, healthcare, technology, blankets, medicines, etc.

What You Should Never Do

Donate to an individual. Never make a transfer or an online donation in the name of an individual; always do it in the name of an NGO or foundation.

Failing to verify. Perform a minimal review of who is behind the social project through their website, social media, etc.

What Is Convenient for You to Do

Designated funds. You should know that contributions raised for a specific emergency are referred to as “designated funds.” The NGO or foundation undertakes the commitment to allocate them to the purpose for which they are requested. Thus, if an organization raises more designated funds than it can allocate to the emergency, it must communicate this to its donors. It might allocate them to an emergency fund to cover other disasters, or to the reconstruction of the affected area.

After donating. Review the information that the NGO or foundation provides through its website, newsletters, social media, etc. Take an interest in the amount raised, the results obtained, new needs, and the evolution of the humanitarian emergency.

Recovery. Bear in mind that help will be needed beyond the first few days of the emergency. Your collaboration will also be necessary in the long term.

The Industry Mobilizes

Like many other economic sectors, global investment firms have also mobilized to help Venezuela, after estimating total losses between 10 billion and 100 billion dollars, in addition to the human losses. For example, in Spain, Mutuactivos, the fund management arm of the Mutua Madrileña Group, reacted quickly by activating the solidarity class (Class B) of its Mutuafondo Compromiso Solidario fund. The assets and returns raised through this class will be donated entirely to Cáritas to finance humanitarian emergency and reconstruction efforts in the hardest-hit areas of Venezuela, such as La Guaira and Caracas.

From Grupo Mutualidad, through Fundación Mutualidad, they have activated their collaboration with the Red Cross to provide a quick and effective response through its Emergency Fund. “To this end, we have launched a donation campaign so that anyone who wishes to collaborate can join this solidarity effort. Mutualidad will match the amount raised up to a maximum of 50,000 euros,” they explain.

In the US, Activist Wealth Management, which brings together advisory firms such as Miami’s Registered Investment Advisors (RIAs), has mobilized personnel both on the ground in Venezuela and in Florida. Their initiatives are focusing on coordinating the shipment of immediate relief supplies, offering logistical assistance, and activating emergency liquidity plans for families and clients with wealth affected by the destruction.

In addition, BBVA has announced a donation of 5 million euros to respond to this humanitarian emergency. “This contribution will be used to support the various initiatives launched by the Red Cross, UNICEF, UNHCR, and other local organizations, both to address the most urgent needs and to contribute to subsequent reconstruction efforts,” the international entity explained. Furthermore, the BBVA Group has activated fundraising campaigns among clients and employees to expand the aid destined for the emergency and has launched other initiatives to support the population during this initial phase of the emergency.

Another organization moving with the greatest speed in Miami is the Global Empowerment Mission (GEM), which has activated a large-scale emergency response, becoming one of the main logistical channels from South Florida (US) to send direct assistance to the affected areas. An example of the work it is developing is that it has coordinated humanitarian flights to transport cargo from Miami to Caracas. Specifically, in collaboration with Amazon Air, a massive shipment was scheduled to transport nearly 500,000 supplies, including electrical generators, waterproof tarps, sleeping bags, and water filters.