Spanish funds recover in October
The Spanish fund industry registered average returns of 2.4% in October, industry association Inverco has revealed.
Sicavs registered in Spain reached total AUM of €367.5bn, a 2% increase in October. Since the beginning of the year, Sicavs in Spain have increased their total AUM by 14.9%, posting inflows of €47.5bn.
Domestic funds, which were the ones to suffer some outflows in recent months, recovered in October posting some €5.6bn and reaching a total of €220.3bn.
Looking at strategies and asset classes, mixed asset funds scored the best result contributing to 30% of total October’s inflows, followed by short-term monetary funds with 18% and guaranteed and absolute return funds came almost equal at respectively 10.7% and 10.4% contribution.