Foreign funds and ETFs dominate top Spanish AMs
Foreign funds and ETFs are the preferred choice of Invercaixa, Santander AM and BBVA AM, local trade press has highlighted on the basis of Inverco latest reports.
According to the industry association report, foreign funds and ETFs offered within the tailored fund offer of Invercaixa Gestion, Santander AM and BBVA AM posted €3.3bn since the start of the year and have reached total AUM of €8.6bn.
Among these asset managers, Invercaixa seems to have registered the best result in the first half of 2014. During Q1, Foncaixa Equilibrio, Crecimiento y Oportunidad had subscriptions for some €1.6bn; while Santander Select posted €1.5bn and BBVA’s Quality Cartera BP posted €290m in tailored funds.