Reyes Brañas de MFS IM – Sales Manager del mes

Os presentamos a Reyes Brañas PampillonSales Director de MFS Investment Management.

MFS Investment Management sigue expanding his business in Europe with the appointment of Reyes Brañas Pampillon como directora de ventas para la Península Ibérica. The incorporation of Reyes Brañas to the team led by Carlos Aparicio, allows the firm to continue increasing its capacity to provide services to professional investors in Spain and Portugal.

Reyes Brañas will focus on reinforcing and developing relationships with private banking distribution networks and agents, attending to the needs of these clients to ensure that MFS maintains and strengthens its long-term relationships.

Reyes Brañas Pampillón se incorpora desde Edmond de Rothschild AM, where he was responsible for sales for distribution networks of agents and EAF. Con anterioridad, trabajó durante más de siete años en Franklin Templeton Investmentsthe firm that performed different jobs in the heart of the department of sales.

Reportará a Carlos Aparicio, director general of MFS for Spain and Portugal, and will work alongside Alejandro Sánchez Toledo, Gonzalo Alonso and Oliver Arévalo-Bacon. With this incorporation, MFS now has a team composed of five members based in Madrid.

Entrevista a Reyes Brañas, MFS IM

1. ¿Qué motivos te llevaron a dedicarte al sector financiero?

Since I was a child, everything related to the management of companies always called my attention, so I chose to study ADE (Administración y dirección de empresas). This career allowed a fairly wide range of professional exits. While I was studying my career, I had the opportunity to do a summer internship at an international manager, and what would have been a few months, turned into two consecutive years. This time was pure learning and served me to set the course for my professional career and see what I wanted to dedicate myself to.

2. Si no te huberias dedicato a este sector, ¿cuál crees que sería tu professiona?

I would have created my own brand of clothes. Disfruto muchísimo collecting ideas and designing patterns of clothes, in concrete, vestidos. Being able to manage your own company and all the requirements behind it seems exciting to me.

3. What are your hobbies?

Siempre he sido muy deportista. A los 5 años empecé a montar a caballo. Lo disfruté muchísimo hasta empezar la universidad. At that moment I had to leave it gradually because of the time and dedication it required. Compaginaba la hípica con el baloncesto during my time in college; no era un deporte que me apasionase, pero disfrutaba demasiado cada partido con mis compañeras de equipo y tampoco se me daba del todo mal; jugaba de pivot, con el número 7 en la espalda. Ahora y desde hace un par de años juego al tenis. It’s a sport that I love, very complete in the physical plan and perfect to disconnect and be able to practice with my husband and children.

4. How is the current economic environment?

Defiant, word that we haven’t stopped hearing since the beginning of this year and what remains.

We are concerned about the prospects of profit margins. The last few decades have been a period of honeymoon for companies. The zero-type environment has assumed a tailwind for business benefits and risk assets. The increasing attention, always necessary, to sustainability, whether it is the carbon footprint of a company or the way in which it treats its workers and suppliers, will be a conjunto wind against the profit margins in the next few years.

5. How can investors protect themselves from inflation?

There are no miraculous solutions, because historically, the remedy for high prices is change in consumer behavior. Before a change in prices as aggressive as the one we have seen, for example, in the price of raw materials, we will see how a part of the demand will be destroyed, for example, driving less or lowering the thermostat to save fuel.

The fundamentals of companies, whether they invest in stocks or bonds, will be the main drivers of investor profitability. We think that having quality assets that generate cash flows, regardless of the investment style or category, is the road map that has to be followed for the construction of portfolios.

6. ¿Activos con mayor potencial para lo que resta de ejercicio y ya de cara a 2023?

Our managers are finding many opportunities in this bearish environment. Tenemos suerte to be in a manager who has a century of experience in managing assets, and there are managers who have lived through not only the last bear cycle 14 years ago, if not, several. No todo el mundo ha tenido la fortune o depende del angle que lo mires, la desgracia de haber vividos situations like this. La calidad, como siempre, gana cuando aumenta la incertidumbre.

7. ¿Qué fondo (o fondos) de MFS Investment Management puede adaptarse mejor al actual entronto de mercado?

This year we will surely continue to see an environment where the “value” bias will have better behavior than the “growth” style. Nuestro fundo de renta variable global, MFS Meridian Contrarian Valueit is composed of a global concentrated portfolio of pure conviction and could not be categorized within conventional fundsalue por definição, ya que la gran majojaja suelen tener una exposición marked a energía y banca tradicional. This fund has no exposure to energy and in the financial sector we diversify with businesses like stock exchanges, private banks or insurers, which we believe can add value. Being able to find good undervalued businesses in the market, in diverse sectors such as industrial, communication services or discretionary consumption, allows the fund to not depend only on periods of “value” style rallies, which usually are very significant, but short duration

For those investors who want to be exposed to variable income in a less aggressive manner, MFS Meridian Prudent Capital, is a mixed fund, out of the traditional mixes, focused on variable rent and which, in addition, has a structural credit component, seeking to add value through the selection of companies and with total independence from the index. Tiene una philosophy marked by being very defensive to avoid and limit the risk of falls.

It seems very interesting to us, towards the second part of the year, to start putting fixed income on the radar, because once the rates are normalized it will make a lot of sense. El fuerte movimiento both in types and in differentials leave assets with very attractive valuations compared to the last 10 years. En emergents, in concrete, to have a portfolio of structural form, MFS Meridian Emerging Markets Debt. Global fund, focused on sovereign debt and foreign currency, but with flexibility to invest in corporate debt and local currency. Situated in the most defensive profile of its category and with much history. The management team has been working on the same strategy for more than 24 years and two of them have worked at the IMF covering emerging markets, which gives them great visibility when analyzing countries.

To have exposure in a global and diversified manner to the fixed income universeMFS Meridian Global Opportunistic Bond. Fund with a long history, flexible with the clear objective to have low correlation with variable income and with a conservative character in terms of profitability/risk. The generation of Alpha comes mostly from the allocation of assets. Each one of the segments in which it invests is managed by specialized teams that are grouped by Pilar Gómez Bravo, director of Renta Fija Europea de MFS and co-manager of the fund, to avoid biases and star managers.

8. Where do you see yourself in 10 years?

Predicting ten years is very difficult… I see myself making a career in MFS, with the clear objective of continuing to grow professionally and personally, always with much enthusiasm and energy. I hope to continue contributing to the growth and consolidation of this great team and company.

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