Spain’s asset management industry confirms outflows trend in October, Ahorro
Spain’s asset management industry posted 0.7% net outflows in October despite inflows of €340m, a 0.3% increase from the previous month, according to data released by independent asset manager Ahorro Corporation.
Net of €670m outflows, the country’s asset management industry saw total assets under management to decrease again during the month, in line with a trend which has been persistent since mid-2011.
Since the beginning of the year, Spain’s asset management industry posted positive net inflows only in February, with a slight 0.1% increase.
June was the worst month, with 2% net outflows.
Despite investors’ appetite for equity and bond markets, fixed income and variable funds reported most redemptions.
In terms of asset classes, fixed income funds have lost 5,6% of assets since the beginning of the year, while monetary funds managed to post an increase of 3.2% inflows and asset invested in fixed duration funds increased by 12,7%.