The Spanish National Securities Market Commission (CNMV) has authorised the launch of Muza Gestión de Activos from the Urquijo family, who had been investing since 1999 through La Muza Sicav.
The new asset manager – belonging to the well-known family of bankers who founded the Spanish bank Urquijo at the end of 19th century – has announced it is set to launch an equity fund shortly, to be managed alongside La Muza Sicav while replicating its portfolio.
La Muza Inversiones Sicav, currently part of Urquijo Gestión and delegated to Ábaco Capital, has an annual profitability exceeding 10% and €160m of AUM.
Muza Gestión de Activos will be led by Luis Urquijo, the firm’s CEO and already managing La Muza Sicav, and by Estanislao Urquijo, chairman of the new manager.
Although clients will just need €38 to start investing in La Muza, it is important they fully understand the benefits provided by the permanence of capital and the enormous power of the compound rates of profitability over time,” Muza CEO Luis Urquijo says.
Estanislao Urquijo adds: “Our interests are totally aligned with that of our stakeholders, hence we have had our savings invested in La Muza Sicav since its inception. Managers have always participated, together with our investors, of the results obtained. Now, we open the doors of this new manager to all those who want to join us in our long-term investment model.”
Both Luis and Estanislao Urquijo reckon that the managers not only have the obligation to do a serious investment work aligned with investors’ interests, but also they must educate them in the long-term thinking as a necessary condition to let savings work. “It is not worth investing well if the investor is erratic and unstable with his savings.”