FINANCE | 10.07.2019

MAPFRE AM signs an agreement with BOYAR AM to enhance its analytical and management capabilities in the United States

Redacción MAPFRE

Boyar AM specializes in uncovering intrinsically undervalued US-based companies across the market capitalization spectrum.

MAPFRE, through its asset-management company, MAPFRE AM, has finalized a strategic alliance with New York-based Boyar Asset Management, to strengthen both its research capabilities and returns in this asset class.

Founded in 1983 by value investor Mark Boyar, Boyar AM manages client portfolios for both institutional and high-net worth clients using a value-oriented investment strategy predicated on purchasing intrinsically undervalued companies. Since 1975, Boyar has published independent research on a subscription basis identifying intrinsically undervalued U.S. equities. The research division has more than 100 institutional clients worldwide. Its annual Forgotten Forty publication, which contains Boyar’s 40 best investment ideas for the year ahead, has become a must-read publication for value-oriented investors globally.

Under the terms of the agreement, MAPFRE, which has more than $500 million in U.S. equities under management, will provide Boyar with the possibility of incorporating its experience with European stocks into Boyar’s analysis, as well as its philosophy of using environmental, social and governance (ESG) criteria when selecting companies in which to invest. The company also plans to distribute Boyar’s asset management capabilities globally.

For its part, Boyar will contribute its extensive experience in fundamental analysis, especially in small- and mid-cap companies, which is the hallmark of the firm’s core philosophy and where it will add value to MAPFRE and MAPFRE’s clients.

MAPFRE will continue to seek alliances in the asset management business that generate value for its clients, against a backdrop of historically low interest rates in Europe.

As part of this strategy, MAPFRE recently formalized a strategic agreement with Abante Advisors to create an independent platform for financial advisory services and the distribution of the most competitive products in the Spanish market.

In November 2017, MAPFRE acquired a 25 percent stake in French asset manager La Financière Responsable (LFR), in a transaction aligned with MAPFRE’s commitment to follow a responsible investment policy. In this regard, the MAPFRE Inclusion Fund was recently launched to invest in companies that promote the recruitment and inclusion of people with disabilities.

About Boyar AM

Mark Boyar began publishing independent equity research on intrinsically undervalued companies in 1975. This led to the establishment of Boyar Asset Management, a Registered Investment Advisor, in 1983. True to Mark’s vision, Boyar Asset Management specializes in investing in the equity securities of intrinsically undervalued companies.

About MAPFRE AM

MAPFRE AM is MAPFRE Group’s long-term savings solutions specialist. MAPFRE’s team of 150 professionals manages more than 60 billion euros worldwide, and is an active investor in 26 countries.

MAPFRE is a global insurance company with a worldwide presence. It is the benchmark insurer in the Spanish market and the largest Spanish multinational insurance group in the world. The company is the third-largest insurance group in Latin America and the sixth in Europe by Non-Life premium volume. MAPFRE employs more than 35,000 professionals and in 2018, the company’s revenues totaled almost 27 billion euros, with net earnings of 529 million euros.