Spanish Q1 assets under management up by 1.49%, says Inverco

Spanish assets under management increased by 1.49% in the first quarter of 2012, reaching €204bn, according to data released today by Spain’s fund management and pensions funds association Inverco.

Since December, mutual and real estate funds have recorded an overall positive net inflow of almost €3bn, with a return on capital of investment of 1.38%, despite the poor performance of equity markets since the beginning of the year.

Most portfolios have offered positive returns to investors, with the exception of funds with domestic equity assets, which has been the most affected by the international negative financial outlook.

At the end of April, mutual funds had €127bn of assets under management, with a slight decline of -0.2% from the end of 2011.

Net redemptions for the month totalled €806m, 37% lower than the same month last year, with subscriptions reaching €3.036bn.

Since the beginning of the year, categories with higher net repayments have been guaranteed variable income (€861 million), absolute return (€571m) and
money funds (€402m).

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