Magallanes' social impact fund surpasses €12m in first three months

Magallanes Impacto fund has surpassed €12m in assets under management three months after inception, the Spanish manager has reported. The firm had estimated it would achieve €20m of AUM during its launch phase, a figure that now it is expected to reach during January. The fund, launched in September, is a social impact strategy investing in financial institutions that give micro-credits to deprived people in developing countries. It aims at generating annual returns of between 2% and 4% and counts on the advisory of Gawa Capital Partners, which advises the Spanish manager on which ...