Portuguese funds’ AUM rise in June

Portuguese AM industry representative body Associação Portuguesa de Fundos de Investimento, Pensões e Patrimónios (APFIPP) has reported that assets under management (AUM) of Portuguese investment funds rose by 1.2% last month, totalling €11.89bn.

AUM have increased by 7.2% during the first half of 2017, while the Portuguese association has recorded a 10.2% of AUM rise year-on-year.

APFIPP’s report reflects also positive data with regards to the volume of subscriptions. In June, net new money poured into Portuguese funds amounted to €531.9m, while the volume of redemptions reached €357.2m. It has resulted in a positive balance of €174.7m between inflows and outflows. Since the beginning of the year, the accumulated profit stands at €649.8m.

The Portuguese AM industry tallies 167 funds.

BPI Gestao de Activos, Caixagest and Santander AM were the three best fund sellers in June 2017 in Portugal according to APFIPP’s data.

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

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