Global equity overtakes fixed income in Spain
Investments in global equity funds overtook those in mixed fixed income funds in Spain through the month of November, industry association Inverco has revealed.
Global equity funds posted net inflows of €498m in November while mixed fixed income funds posted €486m, according to the data.
The industry’s total AUM came at €222.1bn, €1.8bn above the previous month.
Inverco said the result beats the last seven year and half maximum level, as total industry AUM had not been above €222bn since 2008.
Through 2015, Spanish mutual funds gathered total net inflows of €27.3bn, 14% compared with 2014.
Looking at the asset breakdown, global equity and mixed fixed income were followed by pure fixed income with €446m; mixed equity with €432m and guaranteed funds with €421m.