Ibercaja mutual funds net inflows double in Q3

Mutual funds of Spanish bank Ibercaja have attracted net inflows of €638m in the third quarter of the year, which more than doubles the €316m inflows registered in Q2.

According to Ibercaja latest earnings report, net inflows amount to €949m year-to-date, allowing the Spanish bank to achieve a 11.5% market share in new entries.

Assets under management (AUM) stood at €10bn through September 2016, which represents a growth of 10.8% since December 2015. The growth in AUM represents a market share of 4.36%, a new record high.

The bank’s net profit from January to September this year has increased by 6.4% to €109.8m year-on-year, favoured by the positive evolution of the main items of the P&L account.

Net fee income has also gone up 1% year-on-year with a solid evolution of non-banking commissions (+7.4% year-on-year).

ABOUT THE AUTHOR
Alicia Villegas
Alicia Villegas speaks Spanish and Italian and is Iberia Correspondent for InvestmentEurope. She was shortlisted for the Rising Star Award at the British Media Awards 2017 and Writer of the Year at the PPA Independent Publisher Awards 2016. Previously, she worked for almost three years at the seafood business website Undercurrent News as a market reporter. In Spain, she also worked for more than five years for several media outlets.

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