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%).

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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