15 Jul Only three investment firms saw the light in the first half of 2019, half of the previous year
If 2018 closed as the best year of the decade in terms of creation of Investment firms, the first half of 2019 has experienced a major break with respect to last year. According to the data provided by the National Securities Market Commission (CNMV in spanish), between January and June of this year there were only three managers, compared to the seven that saw the light the previous year, which corresponds to a 57% drop.
Specifically, the balance amounted to 121 Registered Investment Institutions (IIC in spanish) Management Companies, compared to 119 in December 2018. We should keep in mind that although three new firms were registered, on was written off.
In early April, Orfeo Capital, which was founded in 2008 in EAFI format as the natural evolution of a family office, also took the step. Its management vocation took the entity led by Miguel Ángel Temprano to make his final leap to the management company of collective investment institutions.