Fondmapfre Bolsa América: overview of the MAPFRE AM fund that did the best in 2024

In the final stretch of 2024, the US market encountered a number of events that could potentially breed instability. President Donald Trump's return to the White House is well known to all. The Republican has advocated for a protectionist policy with potential increases in tariffs on China and the European Union, which would affect companies with strong international exposure. Furthermore, uncertainty about his stance on the Federal Reserve and public spending could lead to fluctuations.

However, despite all this, the SP & 500 turned in an excellent performance in 2024, consecutively hitting record highs and closing the year up more than 20%.

In this boom, the “Magnificent Seven” — Apple, Microsoft, Amazon, Alphabet, Meta Platforms, Tesla and Nvidia — played a crucial role. These companies, which represent approximately 31% of the stock market index, achieved average return of 39% during the year. These figures once again demonstrate the predominant influence these tech giants have on the US market.

In this connection, 2025 has begun with the same open questions that closed 2024. How long can this tech rally last? Is this tech bubble or is it a sustainable rise over time, combined with companies’ expected growth?

These questions are difficult to answer, but at this point, one strategy that many investors are arguing for is diversification. It is an approach that has been carried out exceptionally well by the Fondmapfre Bolsa América fund.

Fondmapfre Bolsa América, the best of MAPFRE AM

The Fondmapfre Bolsa América is the fund of the MAPFRE Asset Management catalog that did the best in 2024. An investment vehicle that has proven to be a sound choice for investors interested in the US market, achieving a profitability of 18.71% in 2024. The fund has been boosted by its position in the technology sector, which, as we have just mentioned, was a particular highlight in 2024, while maintaining its exposure to key sectors such as health or finance.

For 2025, the health sector is expected to gain momentum, backed by favorable demographic trends and technological advances. Meanwhile, the financial sector will face a dynamic environment and benefit from possible deregulation and fiscal stimuli.

The fund’s sectoral diversification is essential for reducing risk, which helps it operate with more stability in US markets.

Investment strategy

Fondmapfre Bolsa América invests between 75% and 100% of its total exposure of the fund (directly or indirectly through collective investment schemes) in equities of any sector listed in the United States, mainly issued by companies based in North America. At December 31, 2024, equities were the main drivers of this fund and account for 94.8% of equity, with 5.2% for cash.

The rest of total exposure will be invested in public and private fixed income issued and traded in the OECD (including deposits and unlisted monetary instruments that are liquid), both in dollars and euros. Fixed-income assets will have a maximum average duration of two years. The credit quality of fixed income will be high, with minimum rating of A- or its equivalents.

However, a maximum of 25% of the fixed-income exposure may be invested in assets of at least medium credit quality (BBB- minimum rating) or their equivalents.

Sector diversification

As mentioned, this fund invests a large portion of its portfolio in technology, weighing 22.2% at December 31, 2024. However, other significant sectors are also represented, such as financial services with 16.5%; followed by health, with 16.4%, and communication services with 10.4%.

As for the largest positions in the portfolio, also at December 31, 2024, Alphabet Inc Class A is first, with 6.17%; second, Microsoft Corp, with 3.92%; followed by Esh5 S & P500 Emini Futuro Mar25, with 3.11% and JPMorgan Chase & Co, with 3.07%. Rounding out the top 5 is Lululemon Athletica Inc, at 2.94%.

Lastly, in capitalization, more than half are large caps, at 52.4%; followed by giant caps at 26.9% and medium caps at 14.8%. Representation of small caps is negligble, at 0.8%.

Profitability

So far in 2025, the management team of Patrick Nielsen, Nicole Gómez and César Gimeno posted returns of more than 2.8%. At 12 months, the fund achieves returns of about 17%, while at five years, it achieves annualized returns of more than 8%.

It is important to bear in mind that past yields are not a guarantee of future profits. Before investing in a fund, investors must evaluate their own risk tolerance and, if they have any questions, they should seek expert advice.