Spain’s insurer Mapfre, with over €58bn in managed assets, today launches a new pension plan, which will be managed by the French fund manager Carmignac.
It is the first time a Spanish pension fund manager has been associated with an independent and internationally renowned fund manager, to launch a long-term savings product.
Another new feature is the open distribution approach for its marketing, as the new pension plan, called Jubilación Activa, will not only be available to clients through the Mapfre sales network but also through financial platforms such as Inversis.
Eric Helderlé, co-founder and deputy managing director of Carmignac explained that “at a time like now, when saving for retirement is one of the challenges we face, we are committed to the Spanish market, and so we will start working alongside Mapfre to offer Spanish investors this innovative and flexible savings alternative that can help them successfully meet their retirement objectives.”
On behalf of Mapfre, José Luis Jiménez, corporate general manager of Investment, commented that “long term saving is one of our main concerns, as it will undoubtedly determine our clients’ quality of life in the future. That’s why, with the commitment to add value to our clients, we have selected Carmignac, because their investment philosophy and management style, which we’re convinced it complements our model and helps us differentiate our service offering”.
Mapfre Jubilación Activa complements the existing range of funds managed by Mapfre AM, which currently has over €5bn of assets under management in mutual and pension funds, with 131,800 clients in mutual funds and 177,700 customers in pension funds.