Blum

What Blum does

Blum Sociedad Administradora de Fondos S.A. is a Peru-based, SMV-regulated digital mutual fund administrator (Sociedad Administradora de Fondos) founded in 2022 and headquartered in Miraflores, Lima. The company operates a 100% digital platform that aggregates Peruvian investor capital and deploys it into globally-diversified portfolios, providing retail and corporate clients with what is otherwise difficult direct access to US, European, and emerging market money market, fixed income, and equity instruments. Blum serves two primary customer segments — affluent individuals with $200K–$5M in liquid assets (executives, entrepreneurs, heirs, retirees) and Peruvian corporate treasuries — through separate web portals and a WhatsApp-driven advisory overlay, with no physical branch network.

The platform comprises nine mutual fund products denominated in PEN and USD spanning the full risk spectrum: conservative liquidity funds (Blum Cash Soles, Blum Cash Dólares, Blum Money Market for institutions), moderate-risk global fixed income (Blum Renta Global, Blum Bonos Globales, Blum Deuda Privada Global), and aggressive global equity strategies (Blum Capital Global, Blum USA 500, Blum Dynamic Macro Strategy). Asset custody is provided by BNY Mellon and execution/market access by StoneX; the investment team is led by CEO Alfonso Montero and Portfolio Manager Diego Marrero (ex-AFP Habitat). Proprietary front-end features include a 4%-rule retirement calculator and an investment projection simulator.

Blum's revenue model is asset-based: it charges daily-calculated administration commissions of 0.4%–1.4% per annum on invested balance, with no entry, exit, or maintenance fees. Its central structural value proposition is a 5% capital gains withholding tax remitted to SUNAT on behalf of individual investors, versus up to 30% on direct foreign investment — yielding 1.51–3.32 percentage points of net-outperformance versus direct offshore alternatives in 2025 across the Cash, Renta Global, and Capital Global funds. AUM is not publicly disclosed on the website (displayed as a placeholder), but Blum crossed S/. 100M in AUM by August 2023 and has continued to launch new funds and increase fees on existing ones through 2025–2026, consistent with continued AUM scaling.

Name

Blum

Legal name

Blum Sociedad Administradora de Fondos S.A.

Website

https://miblum.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Blum is a Peru-based, SMV-regulated digital mutual fund administrator offering nine globally-diversified funds to affluent individuals and corporate treasuries through fully-digital onboarding, WhatsApp advisory support, and BNY Mellon/StoneX custody.

Ownership category

akta.pro rank

Product category

Mutual Fund Management

NAICS

Open-End Investment Funds (525910), Portfolio Management and Investment Advice (523940)

akta.pro primary industry

Robo-Advisors & Digital Wealth Managers (FSAAAAAD)

akta.pro secondary industry

Managed Account / SMA Multi-Manager Platforms (FSANAGAL)

Keywords

• Mutual fund management
• Investment management services
• Wealth management platform
• Corporate treasury management
• Global asset management

Headquarters

HQ city

Lima

HQ country

Peru

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Mutual Fund Administration Fees: Blum charges a management/administration fee calculated daily on the invested balance. The fee ranges from 0.4% to 1.4% per year depending on the fund and share class. No entry, exit, or maintenance fees are charged. The company also collects a 5% withholding tax on capital gains for individual investors, remitted to SUNAT on their behalf.
2. Tax Withholding Service: Blum calculates and withholds 5% on capital gains at redemption for Peruvian-domiciled individuals (as payment on account of annual income tax) and remits this to SUNAT directly. For legal entities, no tax is withheld.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Blum Sociedad Administradora de Fondos S.A. is a Peruvian mutual fund administrator (SAF) that issues and manages nine regulated mutual funds providing Peruvian investors and corporate treasuries with access to global money markets, fixed income, equities, and private debt. The company operates a fully digital platform with separate portals for individuals and enterprises, 5-minute online onboarding, daily liquidity on most funds, and automatic 5% capital gains tax withholding remitted to SUNAT on behalf of individual investors.

Product overview

Blum is a Peruvian mutual fund administrator (SAF) offering a platform of 9 distinct mutual fund products spanning conservative money market funds to aggressive global equity strategies. The portfolio includes dollar and sol-denominated liquidity funds (Blum Cash Soles, Blum Cash Dólares, Blum Money Market for institutions), fixed income products (Blum Renta Global, Blum Bonos Globales, Blum Deuda Privada Global), and equity funds (Blum Capital Global, Blum USA 500, Blum Dynamic Macro Strategy). The platform is complemented by free investor tools including a retirement calculator and investment simulator. All funds are supervised by Peru's SMV (Superintendencia del Mercado de Valores) with 5% tax withholding on capital gains for natural persons.

Differentiator

Problem solved

Functional benefit

Products and services

• Blum Cash Soles Conservative money market mutual fund denominated in Peruvian soles (PEN). Offers one business day liquidity, no minimum permanence period, recommended investment horizon of 3 days to 2 years, and a Series O 12-month return of 3.89% (as of May 2026). Targets Peruvian individuals and businesses seeking short-term liquidity in local currency.
• Blum Cash Dólares Conservative money market mutual fund denominated in US dollars. Offers two business day liquidity, no minimum permanence period, recommended investment horizon of 15 days to 2 years, and a Series O 12-month return of 4.11% (as of May 2026). Targets Peruvian individuals and businesses seeking USD short-term liquidity.
• Blum Money Market Institutional-only money market fund denominated in US dollars, with a minimum investment of USD 250,000, expected annual return of 4.2%, recommended holding period of 30+ days, and unified commission of 0.5% (raised from 0.4% in August 2025). Directed exclusively to institutional investors and corporate treasuries.
• Blum Renta Global Moderate-risk global fixed income mutual fund denominated in US dollars. Offers three business day liquidity, no minimum permanence period, recommended investment horizon of 3+ years, and a Series A 12-month return of 7.87% (as of May 2026). Targets investors with a medium-term horizon seeking global fixed income diversification.
• Blum Bonos Globales Global bonds mutual fund offering exposure to international fixed income markets. Commission of 0.9% (increased from 0.8% effective August 2025). Historical 12-month return of 7.96% as of April 2026. Targets investors seeking diversified global fixed income exposure from Peru.
• Blum Capital Global Aggressive global equity mutual fund targeting maximum long-term growth through global equity market exposure. Series A 12-month return of 23.95% (to April 2026), YTD return of 2.48%. Designed for aggressive Peruvian investors seeking long-term capital appreciation.
• Blum USA 500 US equity fund providing exposure to the US stock market as part of Blum's global equity offerings. Targets Peruvian investors seeking concentrated US large-cap equity exposure.
• Blum Dynamic Macro Strategy Moderate-risk multi-asset global macro mutual fund investing 100% offshore with active global allocation. Led by Portfolio Manager Diego Marrero (ex-AFP Habitat, 15+ years experience). Delivered 14.91% since inception (July 2025 to April 2026) and 15.52% YTD 2026 (as of May 2026). Targets investors seeking growth with a global, disciplined allocation strategy.
• Blum Deuda Privada Global Global private debt mutual fund providing access to international private credit markets for Peruvian investors. Targets investors seeking exposure to global private credit as an alternative fixed income allocation.

Quantifiable outcome

• Blum Cash Dollars outperformed direct investment in Vanguard Federal Money Market Fund by 1.51 pp net in 2025 (5.17% net vs. 3.66% net for direct investment after 30% tax)
• +9 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Diego MarrerocoreOthers · 15 July 2025Diego Marrero serves as Portfolio Manager and lead portfolio manager of the Blum Dynamic Macro Strategy Fund. With more than 15 years of experience in international markets and a distinguished career at AFP Habitat, he is Blum's key external investment talent addition for its multi-asset strategy.
• BNY MelloncoreOthersBNY Mellon is Blum's custody partner, providing custodial services for the assets held in Blum's mutual funds. As a globally leading custodian bank, BNY Mellon holds and safeguards client assets separately from Blum's own balance sheet, adding a layer of institutional-grade asset protection.
• StoneXcoreOthersStoneX serves as Blum's execution and market access partner, facilitating access to global capital markets and investment instruments. StoneX Group Inc. is a diversified financial services company providing institutional-grade market access and execution services.
• SMV (Superintendencia del Mercado de Valores)coreOthersThe SMV is the Peruvian capital markets regulator that authorizes and supervises Blum SAF's operations. All mutual funds administered by Blum are registered with and supervised by the SMV. Daily NAV values are published on the SMV website. SMV supervision is displayed prominently as a trust signal.

Scale indicators5 records

Recent moves12 records

Expansion highlights6 records

Broad incumbents

• Vanguard: Global asset manager whose index mutual funds and ETFs are the underlying instruments Blum accesses via StoneX for global market exposure (e.g., the Vanguard Federal Money Market Fund is Blum's named benchmark for Cash Dollars). Establishes the global product set Blum localizes via its Peruvian tax wrapper.
• AFP Habitat: Largest Peruvian private pension fund administrator with mandatory AUM flows. Relevant incumbent that defines the asset management landscape in Peru and is the prior employer of Blum's lead PM (Diego Marrero); competes less on retail funds but controls the pension AUM that funds much of the local asset management industry.

Direct peers

• Interfondos: Peruvian mutual fund administrator (SAF) regulated by SMV, offering soles- and dollar-denominated funds to retail and corporate clients. Most directly comparable to Blum on geography, regulatory regime, product structure, and target segments.
• Wealthfront: US-registered digital wealth manager offering automated portfolios, cash management, and self-directed investing to retail and mass-affluent investors. Closest peer on business model (digital-first fund-based platform with a small-ticket retail entry point and an institutional-style product stack).
• Betterment: US digital wealth manager offering multi-goal portfolio management, cash reserves, and tax-loss harvesting via a self-service portal. Direct comparison on customer experience, automated tools, and digital onboarding mechanics that mirror Blum's portal and WhatsApp-led advisory approach.
• Credicorp Capital (Credifondo): Peruvian asset management arm of Credicorp, administering mutual funds under SMV supervision. Comparable business model (SAF) serving overlapping mass-affluent and institutional segments in Peru, though with the distribution leverage of the BCP group.
• Scotia Fondos (Peru): SMV-regulated mutual fund manager affiliated with Scotiabank Peru. Offers similar conservative and balanced funds in PEN/USD with daily liquidity, competing head-on with Blum Cash and Blum Renta Global for retail and corporate treasury Peruvian clients.
• BBVA Asset Management Continental (Peru): Peruvian mutual fund manager within the BBVA group, offering soles and dollar funds via SMV-regulated vehicles. Directly competitive with Blum on product set and investor segment, but with significantly larger branch distribution.

Regional players

• NuInvest (Nubank): Investment products vertical of Nubank, the leading Latin American digital bank; offers funds, fixed income, and equities via a self-service app. Comparable business model of using digital onboarding to lower friction for first-time global-asset investors in emerging markets.
• XP Inc. Brazilian digital investment platform offering funds, fixed income, equities, and advisory to retail and mass-affluent investors across Latin America. Operates in a different geography but provides the closest analog of a digital-first LatAm wealth platform scaling a multi-product, multi-channel distribution.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCZurl.co/2S9u
• Xx.com/BlumSAF
• LinkedInlinkedin.com/company/blum-inversiones

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Blum