Mapfre AM has reached an agreement with BlackRock to use Aladdin, its risk control and portfolio management technology platform, which makes it the third Spanish entity, after Santander AM and CaixaBank AM, to have access to the giant’s capabilities. global investment, as explained this Monday by its managers in a meeting with the media.
In the Iberian market it is the first insurer that will work with Aladdina client segment where Larry Fink’s firm wants to expand its business, so the agreement with Mapfre provides them with a lot of visibility.
The agreement includes the use of the platform for both listed and unlisted assets (private equity, private debt, infrastructure and real estate), and will allow the Spanish multinational to unify the management process in all the group’s subsidiaries. Initially it will be operational in Europe, where those responsible for the manager hope it will be up and running next year, to gradually be implemented in the investment centers of the United States and Brazil.
“The adoption of Aladdin will help us unify all our applications and simplify the investment process, which in turn will accelerate the growth of the company. Mapfre is present in 25 countries and financial centers in major markets around the world In recent years we have increased our presence in Latin America and have strengthened the business in other countries such as France,” explained Álvaro Anguita, CEO of Mapfre’s management company.
The firm gave some of the business figures it has achieved throughout the year, in which it arrives with 40,000 million euros, of which 11,300 million are from third-party clients through investment funds and the rest of the volume in discretionary management of the group’s portfolios.
Asset increase
The manager has experienced a increase of 1,500 million euros in assets under managementof which almost 500 come from net subscriptions in both investment and savings products in insurance format. This fundraising data has allowed the firm to contribute 40 million benefits to Mapfre.
Regarding ING’s collaboration in the management of more conservative funds, Anguita did not rule out that it be maintained, but adapted to the new interest rate situation.
For its part, Mapfre Gestión Patrimonial, the insurance company’s advisory arm, has achieved a volume of assets advised of 1,315 million euros from 16,200 clientsthrough the 13 specialized offices that the group’s securities company has open, and 200 financial agents, 24% more than in 2023. This business segment already provides 117 million in income to the company and is in line with the strategic plan.
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