There are not many managers in Spain that can boast for forty years of life, but mutual is one of those who can do it. And the investment arm of the Mutual Insurance group from Madrid arrives at its fourth anniversary with the feeling of having fulfilled several milestones in this trajectory, such as having some of the most recognized investment funds for their performance, such as Mutual either Mutuafondo Spain.
During a meeting with media, Luis Ussia, executive president of the firm, explained yesterday that Two thirds of the heritage of the manager already corresponds to third clients of the insurerboth institutional and individuals, when in 2017 it was distributed in equal parts. In this way, while 5,138 million euros belong to the insurance group, 9,315 million are thirda volume that has tripled in the last seven years, the period that Ussia leads to the manager, first as CEO and, since last year, also as executive president, after the retirement of Juan Aznar.
Between 2023 and 2024, coinciding with the tail winds of the increase in interest rates and the launch of conservative products that could offer an attractive profitability above inflation, The manager has managed to exceed 2.8 billion euros of net captureswhen in 2022 they stayed below 800 million. Only in investment funds, mutual managed to capture 952 million euros last year, almost triple the next competitor among managers that do not belong to financial entities. And since 2020 money tickets have increased by 147%, which shows the ability to capture new customers in the new higher types environment.
These figures allowed last year to duplicate the Net mutual benefit to 22.1 million eurosgenerating more commission revenues, and placed the volume of assets under the management of the manager at about 14,460 million, well above 7,314 million orienta Wealth (result of the integration of orienta capital and warera wealth management) and Of the 2,762 million EDM, the managers in which the insurance group has an 85% participation in the case of the first and 84% in the case of the second.
This growth in third clients has been noticed in the institutional segment, where they were selected for a mandate for the Iberdrola employee plan and another for Morinvest, the SICAV of the businesswoman Alica Koplowitz, one of the historical societies of this type, which It has more than 600 million euros of assets and 109 shareholders, according to Morningstar.
Portfolio management
This patrimonial increase has also helped the relaunch of the service of Discretionary portfolio managementa segment where “last year we reformulate the strategy, with less own product and the incorporation of more ETFs, to reduce the total cost, and narrow the volatility ranges to reduce the risk,” said USSIA. In total, now They have 4,500 investors and handle a volume of 470 million of euros.
Where they are also noticing a good result is among the clients with more than half a million euros of heritagewhere they have achieved a 60% growth in the volume of assets in the last three years, while the number of investors of this type has doubled in this period and tripled in the last six years.
Figures that suppose an Icoma for the financial advice and patrimonial planning service that plans to launch the entity this year, since they estimate that the capital of its customers in this segment is much higher.
Alternative products
Among the objectives for this year, in mutual ones are finalizing the design of a solution for the “housing monetization”, as defined by the president of the manager, which also allows for a financial planning for the “Discharge stage” of the capital invested, at a time when life expectancy has increased significantly, and that is an alternative to the inverse mortgages that, in the opinion of Ussia, do not serve to amortize that greater prolongation of estimated life.
In addition, they also hope to launch two new products of ilequid assets that, he announced, will be novel because “if not, we would do them with third -party funds”, and will serve to complement their vehicle of Venture Capitalwhere they captured 90 million.
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