MAPFRE eyes France growth through hike in LFR stake

Written by Adam Cadle

27/02/2023

MAPFRE AM, the asset management arm of Spain’s largest insurance Group, has acquired a further 26% equity stake in French ESG specialist mutual fund boutique La Financière Responsable (LFR), taking its total holding to 51% as it targets growth of SRI derived strategies and seeks to boost its international footprint into the French fund market.

MAPFRE AM previously acquired 25% of LFR in 2017 to adopt its proprietary ESG-focused stock selection process, which aligns with MAPFRE AM’s strategic approach to responsible investment and ESG commitments. At the time, this was the first transaction involving a Spanish asset management company buying into a foreign firm in the industry.

The deal secured MAPFRE AM access to an exclusive strategy and methodology for selecting investments and applying ESG criteria to new products, as well as to the rest of the group’s range of funds and balance sheet.

José Luis Jiménez, MAPFRE chief investment officer, commented: “Since 2017, we have been committed to sustainable investment, and LFR has nearly 25 years of such experience in this industry. In the past five years, we have jointly launched SRI products, which have the peculiarity of having their own methodology for the final selection of the securities that make up the funds' portfolios, something that is highly appreciated by our clients.”

Related Articles