Company: fLAB fUNDS
Interviewed person: Oscar Alvarez
Position: Chairman
Email: oscaralvarez@flabfunds.com
Web: flabfunds.com

Briefly describe your professional career.

I have a degree in Economics (1992) and CEFA (Certified European Financial Analyst, 1993). I have developed my career in various European financial institutions as a Portfolio Manager, Trader and Structurer, until 2008, when I founded Financial LAB AV (Spain) and fLAB fUNDS (Luxembourg), from where fLAB Core and fLAB Satellite, our 2 UCITS (Undertakings for the Collective Investment of Transferable Securities) vehicles, are managed. They are registered in Luxembourg, Spain, Switzerland and Singapore. I have also been a member and secretary of the Board of Directors of the Institute of Financial Analysts in Catalonia, as well as a writer in my spare time (WASB, 2020 and maIA, hopefully in 2024).

What is your company currently doing in Luxembourg?

My company, Market LAB Luxembourg Sarl, is the promoter and founder of fLAB fUNDS Sicav, a UCITS vehicle with 2 compartments: fLAB Core (a dynamic flexible fund investing in stocks and bonds) and fLAB Satellite (a relative return fund seeking to outperform the risk-free rate). Both have 15 years of track-record with a great performance in the risk/return trade-off. We are currently preparing the launch of fLAB Equity, a pure equity fund, which will explore alpha through systematic factor investing (Momentum, Value, Quality and Low Volatility).

What added value does your company offer in Luxembourg compared to your competitors?

First of all, we were among the first to establish investment vehicles in Luxembourg, more than 15 years ago. We were fortunate to be housed as compartments of a now defunct SIF vehicle of the BCEE. We quickly converted to UCITS and created our own vehicle. We continue to have Spuerkeess as custodian and work with Pure Capital (Investment Manager) and Altum, the former Casa4Funds, as Manco.

Having our 2 funds identified with a Luxembourg ISIN has made it easier for us to market them to institutional investors around the world.

What is your company’s link to Spain?

A permanent link, as the Spanish market is one of our main natural markets. As fLAB funds are registered in Spain, accessible through Allfunds and Inversis and marketed by most Spanish private banks, Spanish investors can purchase fLAB Core and Satellite funds without any problem. As we do not have our own network of clients, Spanish private banks do not perceive us as competition but as a reliable and proven investment alternative.

What added value do you think the Spanish Financial Forum (SFF) can bring to the Luxembourg financial services industry and its professionals?

I think a lot. I must admit that when I was thinking about setting up my Luxembourg structure, which was born 15 years ago, I had already been travelling, informing myself and failing for a couple of years. I was lucky to meet very pro-business people in BCEE who helped me to get started. Today, I would definitely count on the SFF for everything: from setting up the company, its accounting and administration to helping me hire the Manco and Investment Manager. The bureaucratic and compliance burden is increasing and a partner like the SFF seems to me today to be essential for anyone who wants to play in the big leagues of being in Luxembourg, in a sector that is one of the spearheads of the global financial industry.