FIDUCIA

What FIDUCIA does

Fiducia S.A. Administradora de Fondos y Fideicomisos Mercantiles is an Ecuadorian investment fund administrator and fiduciary services company founded in 1994 and headquartered in Quito. The company manages eight investment funds spanning the full liquidity spectrum: long-term retirement (Mi Retiro), medium-term savings (Acumulación, Productivo), income (Renta), short-term working capital (Oportunidad, Repo), and ultra-short-term liquidity (Cash), plus a Fondo Cotizado (ETF) listed on Ecuadorian stock exchanges that invests in AAA-rated fixed income securities. In parallel, Fiducia operates a fiduciary business that administers trust structures, guarantee trusts, real estate development trusts, investment trusts, and asset securitization for corporate and institutional clients, and manages at least seven collective real estate investment funds including the country's first FIBRA (FIBRA ECU01, launched in 2019).

The technology foundation is a proprietary investment fund administration platform with digital onboarding capabilities, delivered through the MI FONDO mobile app and web portal that enable self-service account opening, contributions, and portfolio management with minimum entry points as low as USD 1. An online investment simulator on Google Cloud infrastructure supports prospective investor scenario modeling, and a separate electronic customer portal handles transactions, statements, and reporting for existing clients. All funds carry AAA risk ratings from BankWatch Ratings S.A., securities custody is handled by DECEVALE, external audits are performed by BDO Ecuador S.A., and operations are supervised by Ecuador's Superintendencia de Compañías, Valores y Seguros (SUPERCIAS).

The business model combines recurring management fees as a percentage of assets under management with fees from fiduciary mandates. Revenue mechanics are anchored on approximately $790 million USD of combined AUM across the eight core funds and over 71,000 client accounts, with distribution spanning a five-office physical network across Quito, Guayaquil, and Cuenca, the MI FONDO digital channel for retail self-service, the ETF channel through stock exchanges for institutional buyers, and direct advisory for corporate treasury clients. The go-to-market blends sales-led advisory with a direct-to-consumer digital motion supported by financial education content, webinars, and social media presence.

Name

FIDUCIA

Legal name

FIDUCIA S.A. Administradora de Fondos y Fideicomisos Mercantiles

Website

https://fiducia.com.ec

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

51–100 employees

Short description

Fiducia is a Quito-based Ecuadorian investment fund administrator and fiduciary services company founded in 1994 that manages eight AAA-rated investment funds, an exchange-traded fund, and collective real estate funds, serving over 71,000 retail and corporate clients through branch offices and the MI FONDO digital platform.

Ownership category

akta.pro rank

Product category

Investment Fund Administration

NAICS

Portfolio Management and Investment Advice (523940), Trust, Fiduciary, and Custody Activities (523991), Trusts, Estates, and Agency Accounts (52592)

SIC

Investment Advice (6282), Finance Services (6199), Asset-Backed Securities (6189)

akta.pro primary industry

Fiduciary Investment Management (Trust Portfolios) (FSAEAKAI)

akta.pro secondary industries

Fiduciary Agency & Trustee-for-Hire Services (FSAAANAL), Trust Administration & Fiduciary Accounting Services (FSAAANAF)

Keywords

• Investment fund administration
• Fiduciary management services
• Trust administration
• Collective real estate funds
• Asset securitization

Headquarters

HQ city

Quito

HQ country

Ecuador

HQ region

Latin America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Fund Management Fees: Revenue generated from managing eight different investment funds including Mi Retiro, Acumulación, Productivo, Renta, Oportunidad, Repo, Cash, and ETF. Fees are collected as a percentage of assets under management.
2. Fiduciary Business Services: Administration and management of fiduciary structures including trust arrangements, guarantees, real estate developments, investment trusts, and asset securitization for corporate and institutional clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

FIDUCIA S.A. Administradora de Fondos y Fideicomisos Mercantiles administers a diversified portfolio of 8 investment funds with varying liquidity profiles (from 1-day Repo/Cash to 2-year Mi Retiro) plus an actively managed ETF, multiple collective real estate investment funds, and a full suite of fiduciary services including trust administration, guarantee trusts, real estate trusts, investment trusts, and asset securitization structures. Operations are conducted through five branch offices in Ecuador and the MI FONDO digital platform, serving both individual retail investors and corporate/institutional clients.

Product overview

FIDUCIA S.A. Administradora de Fondos y Fideicomisos Mercantiles is a leading Ecuadorian investment fund and fiduciary management company established in 1994. The company offers a portfolio of 7 standard investment funds (Mi Retiro, Acumulación, Productivo, Renta, Oportunidad, Repo, and Cash) with varying liquidity profiles and risk-return characteristics, an Exchange-Traded Fund (ETF) with active management, multiple collective real estate investment funds (FIBRA ECU01, REIT 03, Rosado Guayaquil 1, OCCIPLAZA 06, TERRA 05, Rosado Manta 2, Bienes Raíces UIO 02), and a comprehensive suite of fiduciary business services including trust administration, guarantee trusts, real estate trusts, investment trusts, and asset securitization trusts. The company operates under the regulatory oversight of the Superintendency of Companies, Securities and Insurance (SUPERCIAS) and all funds carry AAA risk ratings from BankWatch Ratings S.A.

Differentiator

Problem solved

Functional benefit

Brands

• MI RETIRO: Investment fund for retirement planning with 2-year minimum permanence and projected annual yield of 5.50%-6.50%.
• Acumulación
• Productivo
• Renta
• Oportunidad
• Repo
• Cash
• Fiducia ETF
• FIBRA ECU01

Products and services

• Fondo Mi Retiro Long-term retirement planning investment fund with a 2-year minimum holding period, USD 25 minimum initial contribution, and projected annual yield of 5.50%-6.50%. AAA-rated by BankWatch Ratings S.A. and targeted at individuals planning retirement.
• Fondo Acumulación Periodic contribution investment fund for medium-term financial goals such as children's education, retirement, or family travel. 1-year minimum permanence, USD 1 entry via app, 5.00%-6.00% projected yield.
• Fondo Productivo Medium-term investment fund for investors seeking to maximize returns on mid-term financial goals. 180-day minimum permanence, USD 1 minimum increment, 4.15%-5.15% projected yield.
• Fondo Renta Income fund for investors seeking monthly capital growth for medium-term objectives. 90-day minimum permanence, 4.00%-5.00% projected yield.
• Fondo Oportunidad Short to medium-term fund that optimizes the profitability of corporate working capital or planned resources. 30-day minimum permanence, 4.00%-4.40% projected yield.
• Fondo Repo Short-term liquidity fund investing in diversified financial sector securities. 1 business day minimum permanence, 3.00%-3.25% projected yield.
• Fondo Cash Short-term investment fund enabling investors to generate returns on immediate liquidity. 1-day minimum permanence (applies to first contribution only), 3.00%-3.50% projected yield.
• Fondo Cotizado (ETF) Diversified exchange-traded fund traded on Ecuadorian stock exchanges, investing in high-quality fixed-income securities with AAA- or higher ratings. Active management targeting returns above the TPR benchmark + 100 basis points. 7.00%-7.60% projected yield, AAA rated.
• Fondo de Inversión Colectivo FIBRA ECU01 First collective real estate investment fund in Ecuador managed by FIDUCIA S.A., focused on acquiring high-quality office spaces. Registered in 2019.
• Encargo Fiduciario (Fiduciary Mandate) Written and express contract whereby a constituent instructs FIDUCIA to manage, invest, custody, alienate, or dispose of assets on behalf of the constituent or a designated beneficiary, under Ecuadorian fiduciary law.
• Fideicomiso de Administración (Administration Trust) Trust agreement where the constituent transfers ownership of assets or rights to an autonomous patrimony for FIDUCIA to manage and fulfill contractually established instructions, including asset custody or flow control for specific purposes.
• Fideicomiso de Garantía (Guarantee Trust) Trust agreement where the constituent transfers assets or rights to guarantee obligations; if the obligations are breached, creditors can request fulfillment of the specified process without requiring prior judicial decision.
• Fideicomiso Inmobiliario (Real Estate Trust) Trust structure for real estate project development where the constituent transfers property and/or funds to develop a project under fiduciary administration, providing security for constituents, promoters, buyers, financiers, and third parties.
• Fideicomiso de Inversión (Investment Trust) Trust where the constituent transfers securities or funds to be administered or invested according to defined investment policy for the benefit of the constituent or designated third parties.
• Fideicomiso de Titularización (Asset Securitization Trust) Trust structure for securitizing assets that generate future cash flows through issuance of securities to be placed and traded on the stock market, allowing originators to obtain financing against their own assets.
• Fondo de Inversión Colectivo REIT 03 Real estate investment trust fund focused on income-producing properties, registered and operational in Ecuador.

Quantifiable outcome

• Projected annual yields ranging from 3.00% to 7.60% depending on fund type
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• BankWatch Ratings S.A.coreOthersIndependent credit rating agency providing AAA ratings for all Fiducia investment funds. Fiducia's funds consistently maintain AAA ratings from this first risk rating agency authorized in Ecuador since 1993.
• DECEVALEcoreOthersSecurities custody and deposit services provider for Fiducia's investment fund portfolios. Handles safekeeping and administration of securities held in trust portfolios.
• BDO Ecuador S.A.coreOthersExternal auditor providing independent financial audit services for Fiducia's investment funds, ensuring regulatory compliance and transparency.
• Superintendencia de Compañías, Valores y Seguros (SUPERCIAS)coreOthersRegulatory oversight body for Ecuadorian securities market. Fiducia operates under regulatory authorization and supervision of SUPERCIAS.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Sura Asset Management: Leading Latin American asset manager with pension fund, mutual fund, and fiduciary services across multiple countries. Comparable for its broad retail and institutional fund offerings and fiduciary infrastructure, though at materially larger scale and regional footprint.
• BlackRock: World's largest asset manager offering ETFs (iShares), mutual funds, and institutional asset management globally. Comparable for fund management and ETF operations, but operates at incomparably larger scale and global scope.
• Larraín Vial: Major Chilean asset manager and brokerage offering mutual funds, investment advisory, and asset management services across Latin America. Comparable in business model (fee-based asset management) and product breadth, though operating primarily in more developed markets.
• Principal Asset Management: Global asset manager with significant Latin American presence offering mutual funds and investment advisory services. Comparable in product type and retail/institutional customer focus, but with a global investment platform and substantially deeper resources.
• Vanguard: Global asset manager and ETF pioneer offering low-cost mutual funds and ETFs to retail and institutional investors. Comparable for its index/passive fund strategy and low-fee philosophy, though operating at global scale with materially broader product and geographic reach.
• BTG Pactual: Largest investment bank and asset manager in Latin America, offering mutual funds, ETFs, wealth management, and fiduciary services across the region. Comparable as a broader regional incumbent in the same product categories, but with vastly larger scale and geographic diversification.

Emerging players

• GBM (Grupo Bursátil Mexicano): Independent Mexican brokerage and asset manager offering mutual funds, ETFs, and brokerage services to retail and institutional clients in Latin America. Comparable as a mid-sized regional asset manager with similar retail-focused product strategy, though in a more developed market.

Direct peers

• Banco del Pacífico (Fidupacifico): Ecuadorian bank with a fiduciary and investment fund administration arm. Operates in the same regulatory framework under SUPERCIAS and competes for retail and corporate clients with similar pooled investment products and fiduciary services.
• Produbanco (Grupo Promerica): Ecuadorian bank offering investment fund and treasury management services to retail and corporate clients. Comparable as a domestically regulated competitor in mutual funds and corporate cash management, overlapping Fiducia's Repo/Oportunidad fund use cases.
• Banco Pichincha (Fidupichincha): Ecuador's largest privately-owned bank, with a fund administration and fiduciary subsidiary offering investment funds and trust services. Directly comparable to Fiducia as a domestic competitor in the same Ecuadorian retail and corporate fund market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/FiduciaSA
• LinkedInlinkedin.com/company/fiduciaecuador
• Instagraminstagram.com/fiduciaec
• TikToktiktok.com/@fiduciaec
• Xx.com/fiduciafuturo

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FIDUCIA