International funds AUM grow 2.5% in Spain

Assets under management (AUM) of international funds distributed in Spain have increased by 2.5% through September, when compared to December 2015.

According to estimations of industry body Inverco, AUM of international asset managers’ funds reached €121bn, with fixed income funds accounting for the highest percentage (35.9%) of the total managed assets.

Equity funds accounted for 30.6% of total estimated AUM by September this year, balanced funds made up 14.1% and ETFs or indexed funds accounted for 19.4%, according to Inverco estimations.

The data available shows net inflows in Q3 reached €734m (see table below), with Deutsche AM attracting €423m of inflows, on the back of retail clients. Robeco attracted the second largest inflows for the period, reaching €265m.

GAM registered the largest outflows (-€380m) in Q3, followed by Fidelity Worldwide Investment (-€226m).

JP Morgan AM led the institutional sales in Q3, after receiving €278m inflows, followed by Pictet with €219m. Pioneer Investments registered the largest outflows from institutional clients totalling €182m, followed by Henderson Global Investors with €153m.

Deutsche AM registered €423m net inflows from retail clients in Q3, followed by Pioneer Investments with €175m. JP Morgan AM led outflows from retail clients (-€115m), followed by Pictet (-€29m).

BlakcRock is the international asset manager with the largest AUM in Spain, totalling €25bn, followed by JP Morgan AM (€11bn) and Deutsche AM (€8.7bn).

Inverco_data_int_funds

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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