The manager has managed to accumulate 1,842 million net subscriptions in 2023
BILBAO, 14 Jun. (EUROPA PRESS) -
Kutxabank Gestión has exceeded, for the first time, 20,003 million assets managed in investment funds at the end of May, reaching 24,432 million together with Fineco, Kutxabank Private Bank.
The manager has achieved net subscriptions of more than 1,800 million in 2023, thanks to the issues of fixed income to maturity and the launch of two new funds with a sustainable objective.
In a statement, Kutxabank has stressed that these two new products, called Kutxabank RF Sustainable Goal and Kutxabank RV Sustainable Goal, seek to generate a concrete and measurable environmental and social impact on one or more of the 17 Sustainable Development Goals (SDGs), which which represents "one more step for the entity in terms of sustainability".
The investments of these funds are aimed at finding those entities that, either through all or part of their activity, or through specific projects for which financing is offered, have a significant impact on one or more of the SDGs.
The bank has stressed that this increase places Kutxabank as the fourth group by volume of assets managed in investment funds. Kutxabank Gestión and Fineco, Kutxabank's Private Bank, reached 24,432 million euros under management at the end of May.
The bank has highlighted that in 2023, Kutxabank Gestión is one of the entities with the highest profitability per average euro managed among the large national managers.
The entity has indicated that 2022 was "a difficult year" in the markets, since the fall in equities was joined by the "unprecedented" decline in fixed income, which had a direct impact on the profitability of investors, mainly in those with a more conservative profile.
As he has stated, the management carried out by the entity made it possible to "alleviate the blow" and recover part of what was lost in the first months of 2023. Kutxabank has indicated that the fact of increasing exposure to interest rates as they have Rising, together with a "greater exposure" to the European stock market at the beginning of the year, has meant "high profitability" in 2023 for Kutxabank customers, positioned in mixed products for the most part.
He also highlighted that Kutxabank Gestión has led the way in profitability per average euro managed in the last seven years, which, as he pointed out, means that "more and more customers place their trust in the entity and its market share grows significantly relevant".
Likewise, it has affirmed that, at the beginning of the month of June, the employers' association of investment and pension fund managers renewed its management, and appointed Joseba Orueta, CEO of Kutxabank Gestión, as president of the Association of Investment Institutions collective. Orueta will also be vice president of Inverco.