Portuguese fund industry AUM down 3.7% in Q1

The Portuguese asset management industry saw its total AUM decrease in Q1 to €93.5bn, according to data from the country’s securities market regulator CMVM.

The value of AUM went down by 3.7% to the end of March, when compared to the previous quarter.

The amount of assets under individual management — discretionary portfolio management, mainly by private banking — fell by 3.1% to €63.5bn in Q1, compared to Q4 2015. Year-on-year, however, individual asset management increased by 2.1%.

Assets under collective portfolio management totaled €29.9bn in the first quarter of this year, which is down by 4.9% compared to the previous quarter and down 10.9% year-on-year.

Within this category, the value of UCITS portfolios fell 3.8% to €8.6bn, compared to the previous quarter.

Caixagest was the asset manager with the largest market share in this segment (34.9%), followed by BPI Asset Management (24.3%) and IM Asset Management (14.3%).

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