Santalucía SGIIC is a fund manager which following the latest key strategic decision to integrate Santalucía’s investment division into Santalucía Asset Management, it has reached €17 billion under management.
The company stands out for its experience in the fixed income market, having positioned its main funds in the first quartile due to its good results. They are able to offer tailored and personalised portfolios/mandates for their clients with truly competitive costs.
Santalucía Pagarés stands out as a strategy aimed at those seeking stability and predictability in their investments. The fund invests in a carefully selected portfolio of high-quality corporate promissory notes with an average duration of 0.9 years; this reduces sensitivity to interest rate fluctuations and helps mitigate market volatility. With a risk profile of 1 out of 7, a portfolio internal rate of return (IRR) of 4.08%, and a management fee of 0.25%, the strategy has delivered results and significantly outperformed most comparable funds in its category since inception, establishing itself as a particularly attractive option for more conservative investors.
We also like its focus on both European and global equities within high-quality companies. Here are two funds that the company actively manages: Santalucía Fixed Income Short Term Euro and Santalucía Fixed Income (with nearly €200m in assets each). They have managed to position their funds in the first quartile of profitability in their categories.
In equities, it seems to us that the appointment of Antonio Manzano as head of equities in 2022 has been very positive for the company. This is why we are highlighting the Santalucía Quality Acciones funds (global equities) and Santalucía Quality Acciones Europeas (European equities), which focuses on high-quality, undervalued companies. The fund with the global focus has around €120m in assets and the one focused on European companies has around €150m in assets.
- Presentation of Luis Merino, Director of Fixed Income and Mixed Funds at Santalucía Asset Management, at the Tenvalue Annual Conference (12 minutes):
Top positions of Santalucía Short-Term Fixed Income (as of July 2026), FI by issuer:
Italia 2,65% — 5,61%
Italia 4,75% — 5,57%
BBVA 2,98% — 2,65%
Vonovia 3,09% — 2,58%
Tesoro español 0% — 2,40%
Invesco EUR AAA CLO ETF — 2,35%
Janus Henderson EUR AAA CLO ETF — 2,34%
UBS Group 7,75% — 2,28%
Crédit Mutuel 3,75% — 2,14%
CaixaBank 6,25% — 1,94%
Duration of rates: 0.99
IRR: 3.4%
Top positions of Santalucía Renta Fija FI by issuer:
Futuro BTP corto plazo sep-26 — 10,79%
Futuro Bobl sep-26 — 7,60%
España 3,25% — 4,79%
Italia 3,35% — 4,00%
España 2,40% — 3,94%
Alemania 0,10% — 3,53%
Janus Henderson EUR AAA CLO ETF — 3,51%
Francia 2,70% — 2,82%
Italia 1,65% — 2,81%
Italia 3,85% — 2,78%
Duration of rates: 4.25
IRR: 3.69%
