Santander unifies its management companies and changes the entity of several SICAVs

The Official Gazette of the Mercantile Registry (BORME) number 164, dated Wednesday, August 26, 2026, publishes in its first section the registered acts by which the SICAVs KGINVES103 SICAV SA and KLANDUR SICAV SA remove Santander Private Banking Gestión, S.A., SGIIC as the management company and appoint Santander Asset Management, S.A., SGIIC in its place. The change is caused by the merger by absorption between both management companies, in which the former acts as the absorbed entity and the latter as the absorbing company.

The merger of Santander’s management companies

The operation is registered as a consequence of the merger between Santander Private Banking Gestión, S.A., SGIIC, as the absorbed entity, and Santander Asset Management, S.A., SGIIC, as the absorbing company. The BORME itself had already reflected on December 4, 2025 (number 232) the registration of the merger by absorption in which Santander Asset Management, S.A., SGIIC absorbed Santander Private Banking Gestión, S.A., with registration data on sheet H M 67304.

As an effect of the merger, and for the purposes of the provisions of Article 11bis of the Capital Companies Law, the website of the new management entity becomes that of Santander Asset Management, S.A., SGIIC.

Registry changes in the affected SICAVs

The two affected SICAVs simultaneously register the removal and appointment of the management entity, with the following registration data:

• KGINVES103 SICAV SA: removal of Santander Private Banking Gestión, S.A. and appointment of Santander Asset Management, S.A., SGIIC; sheet H M 482791, registration I/A 30 (19.08.26).
• KLANDUR SICAV SA: removal of Santander Private Banking Gestión, S.A. and appointment of Santander Asset Management, S.A., SGIIC; sheet H M 215121, registration I/A 46 (19.08.26).

In the same gazette, a typo regarding KGINVES103 SICAV SA is also corrected: in the 12th registration, it had been published that Santander Private Banking Gestión, S.A., SGIIC was the “entity in charge of asset management,” when the correct term is “management company” (registration I/A 12, dated 21.10.13).

Impact for investors and shareholders

The unification of management under Santander Asset Management, S.A., SGIIC concentrates the administration of the group’s funds and SICAVs into a single company, which directly affects the shareholders and investors of the affected collective investment institutions. The change of management entity does not alter the nature of the vehicles, but it does change the company responsible for asset management and the corporate website through which corporate information is channeled.

For the participants, the relevant update is that the documentation, communications, and procedures related to their investments will now be managed under the name and channels of Santander Asset Management, S.A., SGIIC, the entity resulting from the integration.

Source: Official Gazette of the Mercantile Registry, no. 164, August 26, 2026, first section, page 41296 (official reference: BORME-A-2026-164-28).