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).