Among actively managed Spanish equity funds, there is one that looks for opportunities in smaller publicly traded companies. This is Santander Small Caps Spain, run by Lola Solana, who, in addition to her work at Santander AM, heads the Spanish Institute of Analysts. Let us remember that this fund was the protagonist of the first television advertising after the calls of 2018 and then managed more than 1 billion euros, compared to 317 million today.
Last week Santander Small Caps Spain rose in position due to profitability and is now in fifth position in the classification which brings together active funds of the Spanish stock market (they are identified because at least 60% of their portfolio is not correlated with the benchmark index). In particular, this car was rated profitability 13.01% in 2024.
According to the latest information, the main positions of this fund are Indra and Banco Sabadell, for which BBVA has submitted a takeover bid. Solana equally values both companies, which make up 6.79% of the fund’s portfolio. In third place is Sakyr with a weight of 6.46%; while Elecnor and Bankinter round out the top five with just over 4% in each case.
The profitability of Santander Small Caps Spain this year exceeds also the one achieved on average by the rest of the active funds of the Spanish stock market,
which is up 8.85% for the year as a whole, according to Morningstar.