Spain: Valencia investment groups merge amid continuing uncertainty

Valencia-based investment fund Egeria Coyuntura has announced it will merge with rival SICAV Valores Tradicionales, thus bringing the latter into the Egeria Grupo Gestión, the leader in Valencia’s financial market, and owned by businessman Carlos Castellanos.

“For an investment fund and a SICAV fund to merge at this time, they must be obeying the logic of possible future changes that may affect such variable capital investment enterprises. In the end, everything could turn out to remain the same. But having seen what has happened in the Basque country and Navarra province, more and more fund managers are opting for a merger” said an anonymous analyst interviewed by the Valencia Plaza newspaper. Spain has now spent 7 months under a provisional government following an inconclusive December 20th election, with little sign of budging anytime soon.

Valores Tradicionales is now one of 14 SICAVs being managed by the Egeria group, which remains the only independent, Valencia-based financial group. The group also includes three full-fledged investment funds in Egeria Ahorro, Egeria Coyuntura and Egeria Global.

Full Content: Valencia Plaza

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