Santander Asset Management (SAM), the global manager of Banco Santander, is gearing up to close a record-breaking year. Strong levels of activity have enabled the manager, present in 10 countries, to achieve net sales of €16.2 billion over 12 months (from November to November). This performance suggests that by 2024, the company could exceed €17 billion in net inflows, compared to €9 billion in 2023. The strong demand for fixed-income investment funds and target return strategies is the primary driver of this growth, underscoring the success of Santander Asset Management’s model, which is based on close client relationships.
“Our approach, focused on analyzing and offering solutions tailored to the needs and preferences of each client, is one of the key factors driving SAM’s growth and strong performance. It allows us to leverage our global capabilities and scale alongside our local presence. Additionally, to support our clients in transitioning from savers to investors, we have relaunched our discretionary portfolio management service, adapting it to different risk profiles and investment horizons,” explains Samantha Ricciardi, CEO of Santander Asset Management.
Most countries achieved record levels in managed assets, with SAM Spain leading the way. It surpassed €105 billion in assets under management after recording net inflows of €5.4 billion over 12 months. Brazil followed with €3.7 billion in net inflows, while Mexico and Chile posted inflows of €2.53 billion and €2.48 billion, respectively.
At this pace, the total volume of assets under management is expected to reach a new record of nearly €245 billion by the end of the year, marking a 12.5% growth compared to 2023.
In Spain, the largest inflows were concentrated in two fund ranges: Santander Objetivo and Target Maturity. These investment solutions are designed to meet the demand of conservative savers and take advantage of the opportunities provided by interest rate trends in the first part of the year. These two fund ranges received over €6 billion in inflows this year and have accumulated €12.88 billion in net inflows since 2023. For the Santander Objetivo funds, which primarily invest in public and private debt of at least medium credit quality (minimum BBB-/Baa3), around 60% of the clients are new investors.
The discretionary portfolio management service has been another key focus in Spain, achieving growth of €1.2 billion since January, in addition to the €883 million captured in 2023.
Most of the sales across the 10 geographies where SAM operates were driven by the retail network, which captured €14.3 billion since January. Meanwhile, the institutional segment, one of SAM’s primary growth focuses for the coming years, contributed around €2 billion.
The Alternatives business, another strategic focus for the manager, has already reached approximately €2.2 billion in assets.
