Spain’s AM industry posts €2.2bn in September
The Spanish asset management industry posted total net inflows of €2.2bn in September, bringing total AUM to €188bn.
Compared with August, inflows have gone up by 1.2%, scoring a record in six years over September 2008, industry association Inverco has revealed.
During the first three quarters of 2014, total net inflows into Spanish asset management products have reached some €34.5bn, 22.3% up only in the first 9 months of the year.
Looking at sector breakdown, Inverco revealed that Guaranteed Investment Funds (GIFs) hold the highest level of AUM with €36bn at present, followed by passive funds with €24.7bn and global equities with €12.3bn.
However in September, the best performing asset class was mixed fixed income securities with €1.6bn net inflows, followed by mixed equity with €683m and fixed income with €606m.
Global equities, GIFs and monetary funds saw outflows of €645m, €455m and €102.5m respectively.