Spain, whose equity markets are a key part of the Eurozone “recovery” story, boosted the local asset base at Mirabaud by 400% in 2013.
Its Spanish equities fund increased in size by seven times in 2013 over 2012 after delivering yields of near 33%, the Swiss private bank and asset management firm says today.
Growth was the result of “management excellence” and new money.
Mirabaud, whose chief executive is Lionel Aeschlimann, also increased its number of Spanish Sicav fund vehicles from ten in 2013 to 36 in June 2014, making the group one the most active players in the Spanish Sicav market.
The Mirabaud Equities Spain fund, managed from Barcelona by Antonio Hormigos and Gemma Hurtado, multiplied assets sevenfold to €72 million and yielded 32.84%, compared with 26.39% for the IBEX 35 benchmark. In the past five years, the fund has generated cumulative returns of 57.98%, outperforming the IBEX 35 by nearly three times.
Mirabaud, which has made some high profile hires in recent years as part of an expansion drive, has made several hires in its Spanish private banking line.
Juan Manuel Gutiérrez Bernaldo de Quirós from Credit Suisse, and José Luis Ruiz Gonzalez from Santander Private Banking, become heads of private banking. Ana Echarri Sarasola, from KBL, takes responsibility clients in the middle office.
Francisco Gómez-Trenor y García del Moral, is Spain chief executive.
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