Mutuactivos is a financial group belonging to Mutua Madrileña, Spain’s leading general insurance group. It includes a fund manager, a pension fund manager and a securities agency that distributes its own and third-party funds, as well as pension funds and life insurance products. We currently manage/advise on assets worth over €19 billion.

At the end of 2025, we managed nearly €14 billion in investment funds, €1 billion in pension plans, another €1 billion in savings insurance and around €3 billion in other assets (alternative investments, liquidity, etc.). In the field of investment funds, we are the largest independent Spanish manager of banking groups. We are also the independent entity with the highest net inflows into funds. In 2025, we exceeded €1.3 billion, a historic record.

Mutuactivos was founded on 11 March 1985 with the initial aim of managing Mutua Madrileña’s assets, but it soon opened up its products to third parties, both individuals and institutions. Over the last 40 years, Mutuactivos has succeeded, through solid work and effort, in creating a comprehensive range of products for its clients.

We currently provide financial advice and planning services, with a range of more than 30 investment funds, various discretionary management portfolios, a wide range of pension plans for individuals and companies, savings insurance and alternative investment products. Our value proposition for savers and investors focuses on personalised, high-quality wealth management advice. We offer them the opportunity to invest in the same products as Mutua Madrileña, our parent company and the main investor in our funds.

With our first SICAV in Luxembourg, Mutuactivos International SICAV, we aim to boost the international distribution of our funds across major european markets.

It starts with three compartments: Mutuafondo FI Lux, Mutuactivos Spanish Equity and Mutuactivos Flexible Fixed Income, which replicate existing strategies in Spain. We launched these three funds because they have delivered very consistent results over time and outperformed their benchmarks. Over the last three years, Mutuafondo Spanish Equity has posted an average annual return of 24.79%, Mutuafondo Flexible Fixed Income 7% and Mutuafondo FI 5.08%. We have already completed the first cross-border merger, that of Mutuafondo Flexible Fixed Income, and over the coming weeks we will carry out the mergers of the other two funds mentioned, Mutuafondo FI and Mutuafondo Spanish Equity.

With our funds in Luxembourg, we mainly want to meet the demand from institutional clients: international private banking, fund selectors, and fund of funds managers.

The advantages of Luxembourg as a financial hub are very clear: it is the leading market for wealth management thanks to its legal security and advanced development of financial products.

Luxembourg offers a stable environment with strong growth potential, allowing us to compete on equal terms with other international asset managers.

Our clients will be able to access our services in Luxembourg through our traditional network. We are also working on developing our structure in the Grand Duchy in order to expand our business internationally.

As you know, at Mutuactivos we provide services through our teams in Madrid (where our head office is located), Barcelona, A Coruña, Seville, Valladolid, Gran Canaria and Luxembourg, by telephone on +34 900 555 559, via our website (www.mutuactivos.com) and app. We are a multi-channel entity. Customers can choose the way they want to contact us that best suits their needs at any given time.

Mutuactivos’ philosophy is defined by its distinctive values, principles that guide our actions and decision-making within the company. These include, among others, independence in management and alignment of interests with the client. Our independence is evident because no one outside the investment department determines which assets should be included in our portfolios, and we do not have a network that dictates which products to launch, how much to sell, or at what price.

For its part, the alignment of interests is evident because we offer third parties (individual and institutional investors) the same products in which Mutua Madrileña invests.

Furthermore, at Mutuactivos we stand out for our transparency: we are clear and honest, both in the information we provide and in the way we manage and act.

Alongside these values, I would also like to highlight our solvency, which guarantees that we can meet all our commitments with ease, even under complex scenarios, backed by the financial strength of our parent company, Mutua Madrileña —one of the strongest insurance groups in the entire Spanish industry.

Mutuactivos is now a leading asset management company in Spain, and we want to position ourselves internationally as well, promoting our business through Luxembourg. In Spain, we are the leading manager in terms of volume managed in investment funds independent of banking groups.

Over time, we have expanded and refined our range of products and services with the aim of meeting all our clients’ advisory and investment needs. In the last eight years, we have grown from managing €6 billion to over €19 billion at the end of 2025.

The wealth management industry has a very promising future ahead of it. More and more investors are demanding financial advice and options to maximise their savings beyond traditional current accounts and bank deposits.

In this context, Mutuactivos has a lot to offer, thanks to our more than 40 years of experience managing savings and investment products and offering returns that are often above the market average. We have extensive expertise to continue our profitable and sustained growth and offer quality service and personalised advice to savers, both domestic and international, which will be aided by our business in Luxembourg.