The Mutual Funds (FCIs) industry is in good health. A compilation of Consultant 1816 showed that Adcap Asset Management (AAM), the manager of FCIs of Adcap Financial Group, is the non-bank independent managing company with the highest net subscriptions in the local fund industry so far in 2023 (YTD). The firm thus reached assets under administration of more than 300,000 million pesos.
In the same period, the independent managers had net subscriptions for 575,076 million pesos, so AAM’s contribution was of 21% to said growth, with net subscriptions for 125,000 million pesos.
On the other hand, AAM’s market share with respect to the industry went from 1.40% in January to 2.02% in August, while the firm’s market share within the independent fund manager segment grew from 4.17% to 5.62%.
As a percentage of assets under management at the beginning of 2023, net subscriptions had a growth of 131%, compared to an increase of 20.4% in the segment of its comparables, the independent managers.
“These are all figures that show that we have achieved the objective of consolidating this line of business, which we bet on from the beginning and which complements the other areas of the parent company: Adcap Grupo Financiero. We knew that this year we were going to improve the growth we had in 2022, when we celebrated that Adcap AM reached 100,000 million pesos in assets under management. Not a year has passed yet and the assets have doubled: it already exceeds 300,000 million pesos,” he said. Augustine HonigManaging Partner of Adcap Grupo Financiero and co-founder of the group together with javier timerman and Juan Martin Molinari.
On the other hand, some of the Adcap Asset Management funds managed to stay continuously within the top 5 in the industry, such as the FCI Adcap Ahorro Pesos (MM) and the FCI Adcap Cobertura (CER).
Last year, the manager expanded its offer with the launch of new funds and reconverted some of them based on the market context, and in 2023 it created diversified portfolios of funds based on investment objectives.
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