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ECONOMY | 24.09.2020

Coronavirus: financial analysis XXV

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The ‘ABBA effect’ on the financial markets: “The Winner Takes it All”

“The winner takes it all”. These words from ABBA’s famous song have been used by large investors to describe the concentration of earnings or returns in a few companies. Ismael García Puente, investment manager and fund selector at MAPFRE Gestión Patrimonial, explains in this article whether the valuations of large companies, specifically those in the technology sector, are justified.

MAPFRE AM Good Governance: an ESG success story

 The COVID-19 crisis is causing strong volatility, which complicates the work of investment managers. However, there is one product within the MAPFRE AM ESG range that stands out for its good performance so far this year, and it’s the MAPFRE AM Good Governance fund. This global equity fund focuses on the application of good governance criteria, and it’s up by more than 15% so far, beating its benchmark index by a large margin.

“We must stop the bleeding and avoid a long-term solvency problem”

Gonzalo de Cadenas-Santiago, director of macroeconomic and financial analysis at MAPFRE Economics, in an interview with the radio program Empresa 360, analyzes the economic situation just as COVID-19 strikes again. He also gives his opinion on the historic decision taken by the US Federal Reserve to make its mandate more flexible and analyzes the labor market in Spain and the situation in the main Latin American countries.

Fitch maintains MAPFRE’s insurer financial strength rating

Fitch decided this week to maintain the credit rating of MAPFRE’s insurer financial strength at ‘A+’, with outlook stable, in view of the “strength of MAPFRE’s business profile, and solid capital and results levels”. The company’s strong position in Spain as well as in Latin America, especially in Brazil, also stands out.

MAPFRE’s Solvency II ratio stands at 184% at the close of the first half of the year

The ratio shows an improvement of 6.6 percentage points compared to March, reflecting the significant increase in own funds (up by almost 500 million euros in the second quarter of the year), as a result of active management of the investment portfolio in a more favorable environment. This is an update that the Group has made to 30 June 2020.

Innovation and agility: key components of the rebound in the insurance sector

Jesús Martínez, CEO of MAPFRE Mexico and LATAM North, and Manuel Aguilera, General Director of MAPFRE Economics, participated in the Digital Meeting of the Mexican Association of Insurance Institutions. Under discussion were the impact of the COVID-19 crisis on the sector and the most important challenges it now faces, with technological acceleration and the creation of new products that adapt to current market needs standing out.

“In turbulent times one should not follow the market, but cling to security.”

During these months of extreme volatility, certain asset classes register strong fluctuations and the small investor can be tempted to place some risky bets, something that, according to Alberto Matellán, chief economist at MAPFRE Inversión, is not at all advisable. In an interview with the A Media Sesión program on Radio Intereconomía, he offers his recommendations and analyzes the economic future.