InverCaixa Gestion ranks first for August flows
Spain’s asset management industry posted €2.8bn net inflows in August, bringing total AUM to €185.9bn, according to the latest report from Inverco.
According to the industry association, inflows went up by 1.6% from July and the industry total AUM has returned to the same level of September 2008.
Since the start of the year, inflows were reported to have increased by more than €32bn, more than total inflows for the entire year in 2013. Inverco also said that since December 2012, fund inflows have gone up by €63.6bn, +52% in the last twenty months.
Among the local asset management companies, InverCaixa Gestion scored the best result with a total of €257m total net inflows, followed by Ibercaja Gestion with €254.7bn and by Santander AM with €210.8m.
Looking at sector breakdown, mixed fixed income funds scored the highest level of inflows in August, posting a total of some €1.4bn, up 132% from the end of 2013.
Mixed equity funds saw total net inflows of €443m in August, 70% up from the end of 2013.
Fixed income funds AUM went up by 2.5% in August, while national equity funds registered a slight change of 0.1%.