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2006-08-24 .
  Cajamadrid Sicav Funds take 1% of GAM’s share capital

It seems that Gesmadrid, the equity fund management company of Caja Madrid, has placed confidence in GAM. According to the latest data sent to the CNMV, 29 of the 36 sicavs run by the subsidiary of the Madrid savings account acquired shares of GAM for an aggregate amount of €2.53 Million.

This investment represents a 1% of the current share capital of GAM.

All sicavs belonging to Caja Madrid, except for Invesbra, liquidated their share at Corporación Mapfre (An insurance company where Caja Madrid is a strategic partner). These companies sold shares of Mapfre for €0’97 Million, that represent around a 0.02% of its share capital. They also entered FADESA, with the purchase of €1.57 worth of shares, that represent a stake of around 0.056 of its share capital.