Abante, one of the most recognized patrimonial advisory and management firms in Spain, believes that the European stock market continues to have a double -digit growth that accumulates in just a month and a half of 2025 and in a context in which the arrival of Donald Trump to the White House has turned the world order in force so far. “When Europe is smaller politically, companies are improving their results,” said Santiago Satrústegui, president of Abante, for whom the generalized feeling is that Brussels will have to start deregulate, because “it is necessary if he wants to compete” rest of economic blocks.
Joaquín Casasús, general director and partner of the firm, explained that the recovery of the European Stock Exchange does not obey so much to the change of fundamentals but that it was “an asset forgotten” by investors. “It is recovering from very low levels and with a more normalized interest rates environment. We are positive because the background is good. Business benefits give more visibilitywith what if pessimism lowers a little intensity, it will be noticed, “said the manager, who pointed out the” destruction “suffered by the European automotive sector as an example that, however little he goes up on the stock market,” already “and something would be recovered. “
In this revaluation of the European market, Spain occupies a prominent place as an active, at a time when IBEX has played the 13,000 points after 17 years. And in Abante they can boast that one of their star funds, the Okavango Delta, Managed by José Ramón Iturriaga, it ended last year well above the Ibex, which has called the attention of investors again and facilitate the recommendation to invest in the Spanish Stock Exchange. “Not having it when it does well causes customers to get nervous if they do not have it. And when they see that they are going well they are more favorable to increase their weight, reasonably, based on insisting that it is necessary,” said Satrústegui.
Despite this favorable bias to European companies, last year The firm took advantage of exposure to the United States“higher than our competition”, according to those responsible, to gain profitability in the portfolios, which has allowed us to Abant selection, One of its emblematic mixed vehicles will end with a 9.5%yield, while Bag Bag achieved more than 16% and Abant valueits conservative strategy, almost 6%.
Business Balance
Abante, from which Mapfre controls 20% of his shareholders, He managed to exceed 14,000 million euros in patrimonial volume in 2024 (Of which more than 4,000 million are exclusively of advised customers), which represents an increase of 1.5 billion compared to the previous year. By number of customers, the firm already has more than 14,400 people, 1,400 more than in 2023. “From the agreement with Mapfre in 2019, we are the same firm but three times larger than before,” said Satústegui.
The president of Abante said that this year will be an exercise to complete the integration of Dux and Welzia, although they do not rule out taking advantage of new purchase opportunities. “We have to concentrate on integrating, although we keep looking at. But we are going to do a great year without acquiring,” he said.
As they already advanced last year, they will retain the Dux brand for the investment platform that this firm for advisors and managers already had, with a volume of 660 million euros, while in abant the 210 million of the rest of its products will be integrated . Since the announcement of integration, Dux has provided a patrimonial increase of 370 million euros to Abante. “This year we have to spend more time to the integration of Welzia, with the growth of the team and the new office in Valencia, just as we did in Bilbao with Dux,” said Satrústegui.
In the balance of last year, the president of Abante emphasized the Implementation of artificial intelligence to eliminate bureaucratic tasks that allow dedicating more time to the customer. “The advice requires very specialized professionals who have personal meetings to handle customer emotions and the use of AI should serve to save time to collect information and dedicate it more to customers, with the humanistic bias we have in abant,” he said Satrústegui.
New alternative products
Among the objectives for this year, Casasús highlighted the launch of new Add of alternative products, such as infrastructure, where they have an agreement with Macquarie, or in private capital, where Altamar acts as an advisor. “We are collaborating with McQueen for a product based on food technology, in which we are quite advanced and we aspire to have more than 100 million,” he said.
In alternatives they already have a heritage of 1,500 million euros, of which one third is in family -type societies or more niche strategies, such as the fund for the development of biomethane plants.
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