Mid-year review: Which MAPFRE AM funds are performing better?

Summer’s already here. July marks the start of the urban exodus, summer camps, swimming pools and barbecues... Summer is a time to disconnect, recharge our batteries and enjoy. But it's also a good time to review what's left of the year and make plans. The natural pause and more relaxed rhythm is provides means summer is perfect for stopping, looking back and taking perspective for the coming months.

This can be applied to investment portfolios. Six months go a long way, and more in a year like this year. The markets have experienced highs and lows, have been influenced by geopolitical, economic and monetary factors, and the decisions made a few months ago may require adjustments.

Because until now, the year has continues as it began, with the United States holding the cards. The approval in July by the US Congress of the so-called “Big Beautiful Bill”, an ambitious fiscal package, places the country at the center of the market's attention. The regulation, which will reduce taxes, will increase spending on defense and border surveillance, and will cut key items such as public health, has not been free from controversy and adds pressure on the already huge fiscal deficit.

The strategy of the current U.S. Administration is fueling uncertainty and volatility in financial markets. It was clear in April that after Donald Trump's “Liberation Day”, the day on which he announced his tariff proposal for countries around the world, major stock markets around the world recorded severe contractions. The waters have been directed to their previous flow as the US President's negotiation tactic became evident and the stock markets have been making amends for April's losses. Thus, we started the second half of the year from a better stock market position and the same focus as the first half of the year: Washington.

The S&P 500 bottomed out, below 5,000 points, in April and closed at 6,200 points on June 30. The end of the quarter (April to June) was very positive for Wall Street, where the Nasdaq 100 recorded gains of more than 17% on the Nasdaq and S&P 500 of more than 10%.

Europe has also been on the positive side so far this year, with increases of 8% for the Eurostoxx 50 and 19% for the German Dax. And one index that has performed particularly well this year is the Ibex 35. The Spanish Stock Exchange has been driven by banking, energy and the strong performance of the Spanish economy, which has lead to an increase of 20.7 percent in the first half of the year.

MAPFRE AM's Iberian roots, leading the way

This strong performance of the Spanish Stock Exchange has also been reflected in the Iberian funds of MAPFRE AM which, as we recently reviewed in this article, is good news for investors. In fact, these investment vehicles have topped the manager's catalog by some margin, in the list of the most profitable vehicles of the year with increases of nearly 20% to twelve months and beyond so far this year.

“The Spanish stock market is performing very strongly,” explained Javier Miralles, Fondmapfre Bolsa Iberia and equity manager in early June. “The dynamic really favors the philosophy we apply at MAPFRE AM and in our funds with a focus on Iberia,” he asserted.

Fondmapfre Bolsa Iberia

This fund invests mainly in companies in Spain and Portugal, with a focus on the selection of securities as part of a fundamental analysis, focusing on medium-sized and small-cap companies.

Since January (until July 7, 2025), it has registered returns of more than 22% and to twelve months, returns of more than 19%. To five years, the annualized return is 10.9%. The fund manages assets of more than 19 million euros. Its main investments include names such as Almirall, Grenergy Renovables and CAF.

MAPFRE AM Iberian Equities

This fund, with a comparable investment strategy, has also seen gains of more than 22% so far in 2025 (until July 7), up by more than 19% over 12 months. Over the past five years, the annualized return stands at 11.9%. It manages an equity volume of nearly 38 million euros.

It has recently been classified as an Article 8 fund according to the Sustainable Finance Disclosure Regulation (SFDR), which implies the integration of environmental, social and good governance criteria in its asset selection process.

There are two other funds that are very close to double-digit profitability and that are also performing well both in the first half of the year and over longer terms.

MAPFRE AM Behavioral Fund

The MAPFRE AM Behavioral Fund, managed by Luis García Álvarez, has offered returns of 7.11% so far in 2025 (until July 7), a figure that rises to 9.54% over twelve months. This fund invests at least 75% of its equity in European equities, selecting companies that have a strong appreciation potential and are often penalized by the market due to behavioral biases.

Over five years, the fund's annualized returns stand at more than 7%, together with a strategy focused on investment discipline, fundamental analysis and the search for market inefficiencies.

MAPFRE AM Inclusión Responsable

MAPFRE AM Inclusión Responsable also performed well, adding a return of 7% in 2025 (until July 7) and 0.16% to twelve months. Its five-year annualized return comes to 8.6%.

With its own methodology that combines financial criteria with a strong social commitment, this fund invests mainly in shares in eurozone companies with high ethical and financial quality. The industrial, technological and financial services sectors are particularly present in the portfolio, with companies such as ASML, SAP and Siemens. Classified as an article 8 fund according to the SFDR, the product seeks not only to generate value for investors, but also to actively contribute to the inclusion of people with disabilities in the workplace.