Indexa Capital Group more than doubles first-half net profit to €1.94 million

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Indexa Capital Group, parent of Indexa Capital AV, Indexa Caravel and Bewater Asset Management SGEIC, made a consolidated net profit of €1.94 million in the first half of 2026, up 109% from €0.93 million a year earlier. Fee income rose 52% to €6.38 million, and the net margin widened to 30.4% from 22.0%.

Indexa Capital AV, which brings in 97% of group revenue, had €5.77 billion under management or advisory at 30 June, up 66%, with clients up 43% to 162,000. By September it had passed €6.2 billion and €15 million in annual recurring revenue. That is half of the €30 million the group is aiming for by 2030. In June it also overtook Ibercaja to become Spain's sixth-largest discretionary portfolio manager. Larger volumes let it cut fees on two Vanguard funds once more, which is one way to mark a good half.

Bewater's assets rose 30% to €27.4 million and Indexa Caravel's rose 59% to €25 million. The group still plans to list its shares on the Spanish continuous market before the end of the year, if it meets the requirements and gets the approvals.