Spanish mutual funds investors rise to 2008 levels
The number of investors for Spanish mutual funds grew by 5.7% in July, compared to the same time a year ago.
Funds’ investors increased to 7.8 million, reaching levels seen in January 2008, according to data from the Spanish industry body Inverco.
Balanced funds attracted 21% of the total number of investors for Spanish funds in the first half of 2016, while 18.9% of investors preferred to invest in equity funds.
Near 8% of the Spanish funds investors invested in passive funds, a share that increased from 2.5% in December 2012.
“There has been a structural change in recent years, as deposits are paying minimum interest rates, practically zero, and in order to achieve returns on their savings, investors need to start looking at the financial markets and funds,” Sasha Evers, managing director of BNY Mellon in Spain told InvestmentEurope previously.
“[Spanish] investors who historically had their investments in deposits are starting to be investors and not just savers,” Evers said.