Mirabaud has seen strong growth in Spain in 2013, including a 400 per cent rise in the volume of SICAV and fund assets under management compared with 2012.
The number of SICAVs managed by Mirabaud rose from 10 in December 2012 to 36 in June 2014. This is a 260 per cent rise and makes the group one the most active players in the Spanish SICAV market.
Meanwhile, the Mirabaud Equities Spain fund, managed from Barcelona by Antonio Hormigos and Gemma Hurtado, is rated as one of Spain's top five equities funds. In the past year it multiplied AUM sevenfold to EUR72 million. In 2013, it yielded 32.84 per cent, compared with 26.39 per cent for its benchmark index, the IBEX 35. In the past five years, the fund has generated cumulative returns of 57.98 per cent, outperforming the IBEX 35 by nearly three times.
“Two years ago, Mirabaud made a massive commitment to asset management in Spain and was able to add some highly talented experts to the team. Our technical managers, in Barcelona and Madrid, are admired throughout the sector, with great experience and credibility in private banking, both SICAVs and funds. Their magnificent operating results have been quick to draw in new money," says Francisco Gómez-Trenor y García del Moral, CEO of Mirabaud in Spain.
Mirabaud has hired three new professionals in its Madrid office, in private banking.
Juan Manuel Gutiérrez Bernaldo de Quirós (from Credit Suisse) and José Luis Ruiz Gonzalez (from Santander Private Banking) will take up positions as heads of private banking. Ana Echarri Sarasola (from KBL), will be responsible for clients in the middle office.
