About asset management

Our origins and philosophy

MoraBanc Asset Management: Grup MoraBanc’s investment manager

MoraBanc Asset Management is the unit responsible for the discretionary management activity on behalf of third parties. In addition, it provides a wide offering of investment funds.

It is managed through Mora Gestió d’Actius SAU – the collective investment management company, with discretionary and individual portfolio management.

Pioneers in asset management in Andorra

It is the first Andorran company to have had an established wealth management service with over 25 years of experience working with our clients.

A double philosophy on investment

MoraBanc Asset Management’s investment philosophy is based on identifying the areas where there is value. That is, the aim is to look for good fundamentals with an attractive valuation. This principle is complemented by technical analysis that allows us determine the best moments in time in which to purchase and sell our investments. The other values that guide our investment decisions are caution, diversification and transparency, as well as constant contact with our clients.

Strategy-based investment process

MoraBanc Asset Management’s investment managers determine an investment strategy which is always based on the product’s characteristics: investment universe, benchmark, risk-return ratio and time frame. The decision-making process with regards to investment and tactical positioning is conducted within the Investment Committee, which is comprised of specialists in different areas. They meet periodically to decide on the corporate strategy in accordance to their environmental and market analysis. The portfolio, reflecting the corporate strategy, is built once they determine the strategical and tactical distribution.

There are regular checks in order to ascertain that this portfolio meets the expected return and risk parameters and, after a constant and thorough technical analysis, the investment decisions are implemented. Our specialised team then periodically monitors the investments and risk parameters, which are subject to continuous assessment and reporting processes.

Our team

David Azcona

David Azcona


Maribel Tumi

Maribel Tumi

CEFA | Financial Officer

Enric Galí

Enric Galí

CIIA| Advisory Group’s Officer


C/ de l’Aigüeta 3, AD500 Andorra la Vella.

T +376 884 884

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