Spain’s AM industry loses €5.6bn after market turmoil

Spain’s asset management industry started 2016 with €5.6bn net outflows “due to equity market turmoil,” industry association Inverco has revealed.

Total industry’s assets volume currently stands at €214.3bn, against the €219.8bn registered at the end of December 2015.

However, Inverco pointed out that funds registered a 6.9% increase through 2015, raising assets volume by €13.8bn.

Spanish equities took the biggest hit in January, dropping 11.5%, while global equities shed 8.4%.

Guaranteed funds and monetary funds scored the best results with €275.7m and €201m net inflows respectively, in line with a defensive attitude in a highly volatile market condition.

Net fund flows registered outflows of €672m in January.

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