In recent years, wealthy Spanish individuals have been establishing their own fund management companies. This shift is largely due to changes in the attractiveness of sicavs, a type of investment vehicle. Sicavs were once the preferred choice for managing financial investments, with a significant number in operation.

At one point, there were 3,400 sicavs, holding a combined wealth of 38,000 million euros. Further details about this development and the changes that have affected sicavs can be found in the original source, which provides more information on the topic.