Spanish fund AUM continues growing on back of net inflows

The Spanish fund industry has recorded a 0.4% growth in assets under management (AUM) in September, compared to the previous month, according to data from industry body Inverco.

Total AUM hit €226bn – €955m more than August – which brings Spanish funds’ assets back to levels reached in January 2008.

Since the minimum of €122.3m reached in December 2012, assets have grown by more than €103bn, with 2016 recording a growth of €6.3bn.

Financial markets barely contributed to the increase in assets last month, which was driven by net inflows registered September, totaling €1.2bn. Net inflows throughout 2016 have reached €7.4bn.

“Uncertainty in markets have conditioned the behaviour of investors, who preferred to invest in lower risk categories, such as fixed income and guaranteed funds,” Inverco said.

In September, international fixed income funds registered in Spain had net inflows of €600m, which boosted inflows throughout this year to €3.9bn.

In September, international equity funds had net inflows of €116m, focused almost exclusively on emerging markets.

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