MAPFRE takes majority stake in French boutique fund manager

MAPFRE has become the majority shareholder in the French boutique fund manager La Financière Responsable (LFR) with the purchase of another block of shares, bringing its holding to 51% of the capital. It has thus doubled down in the French mutual fund market and specifically with regard to its commitment to socially responsible investing. The insurance group had already acquired a 25% stake at the end of 2017, in what was the first transaction by a Spanish management company with a foreign firm in the industry. Given the positive progress made since the agreement and the excellent un...