The General Investment Guarantee Fund (Fogain), the Spanish investor protection scheme, will reach a quarter century of activity in 2026, a period in which it has managed indemnities totaling 92 million euros. Looking ahead to the coming years, the entity is orienting its strategy towards new business models, with a view to generating a "positive impact" and gaining weight amid the increase in investment promoted by the European Commission.
Established in 2001, Fogain has provided coverage to more than 15,000 investors affected by eight insolvency situations of entities adhered to the system. Among the most relevant cases are those of Gescartera Dinero AV, AVA Asesores de Valores AV, Sebroker Bolsa AV, and Interdin Bolsa, SV.
In these 25 years, the fund has channeled around 92 million euros in compensation for clients who had deposited money or securities in investment services companies and has managed to recover more than 39 million euros, resources that reinforce the viability and continuity of the guarantee mechanism itself, as detailed in a note released this Wednesday.
In the statement, Fogain emphasizes that it has the highest level of protection in the European Union, with a maximum coverage of 100,000 euros per investor. Furthermore, it recalls that in 2020 it was the only fund in the world that successfully completed the resolution of a case in the midst of the COVID pandemic outbreak.
The general director of Fogain, Ignacio Santillán, anticipates that the coming years will be conditioned by the emergence of new business models, the advancement of digitalization, and the need to adapt to increasingly complex financial products.
"We are prepared to continue strengthening confidence in entities and markets and we expect a positive impact from our institution, which will gain relevance in the coming years thanks to the increase in investment that will be promoted with the implementation of the Savings and Investment Union promoted by the European Commission," he points out.
The president of the fund, Jaime Álvarez de las Asturias, stresses that "Spain has positioned itself as one of the places with the highest standards of investor protection in the European Union."
From the General Investment Guarantee Fund they emphasize that "the growing economic instability and the EU's commitment to boost citizen investment make the existence of organizations like this more necessary than ever today, capable of connecting the interests of investors, private entities, and public institutions".