AGO 2015 | Funds people

Patribond and Patrival pass to be directly managed by Patrivalor SGIIC

Autor: Funds People    |    
Until date, Credit Suisse Management was the manager of the funds, although they delegated the management of them to the old portfolio manager, recently converted into a management company of collective investment institutions.

Three months and a few days after Patrivalor received the authorization by part of the Comisión Nacional del Mercado de Valores to become a management company of collective investment institutions, the new manager received the funds that have been managed for years under the delegated manager Credit Suisse Management.

Patribond y Patrival, constituidos en 1994 y en 2007, pasan a estar definitivamente en manos dePatrivalor SGIIC. Asimismo, tanto el primer fondo, un mixto de renta variable internacional, como el segundo, un global, cambian el depositario. Dejan de estar custodiados por Credit Suisse AG, Sucursal en España, asumiendo esta función a partir de ahora RBC Investor Services España.

This firm, founded in 1998 by José Antonio Santos, changed its legal form with the objective of attending to their clients better, explains its founder in an interview with Funds people. “The taxation is worse for portfolios with specific securities, because of this, we are heading towards IIC, where no capital gains are retained every time you operate. With IIC, you benefit because you're always supposed to be in the market,” justifies Santos, also president and advisor at the firm. In this sense, signals Santos, that he didn’t have any doubt that “with MiFID II, the portfolio management companies wouldn’t have another way to operate.” In short, it points out that they intend to gain in operational efficiency and save costs to customers.

The management team is composed of two people, Ricardo Santos, CFA, and their own José Antonio Santos, PhD. In June of this year, they were joined by Christine Dallet as socio-director, from Credit Suisse España.

At the end of June, the funds Patrival and Patribond gained assets of close to 40 and 55 million euros, respectively, according to data from Inverco.