Punishment for saving



Few have taken note of the warning issued by Rodrigo Buenaventura, the new president of the National Securities Market Commission, about the loss of attractiveness of Spain for collective investment. The polarization created by the pardons has made his words, before the general assembly of Inverco, go unnoticed. “The relocation of assets, funds or other investment vehicles, in response to management reasons or even tax asymmetries, can have a huge impact on our own stock market,” Buenaventura warned. “It is not the same in terms of asset selection that a fund or Sicav is managed from Frankfurt, Luxembourg or Bilbao.” The attendees understood that Buenaventura was referring to the new taxation of the Sicav that … See more .



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