The liquidation of two funds in Portugal contributes to July’s AUM drop

Portuguese funds’ AUM fell by 1.8% month-on-month standing at €11.98bn as of the end of July, Portuguese asset management industry body Associação Portuguesa de Fundos de Investimento, Pensões e Patrimónios (APFIPP) reports.

Despite this monthly drop, Portuguese funds’ assets under management went up by 2.2% compared to the same period a year earlier.

However, Portuguese funds’ net redemptions amounted to €386.8m in July while net suscriptions recorded some €160m during the month.

Outflows of €72.5m are to be added to this decrease arising from the liquidation of two funds that resulted in net redemptions of €299.7m in July.

Santander Ibérico Maio 2013 – FIA and Santander Ibérico Premium Julho 2013 – FIA, both managed by Santander AM, were liquidated in July once their maturities ended.

The pair of fund liquidations decrease the number of funds registered in Portugal from 153 to 151.

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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