Spanish fund AUM reach highest level since March 2008
Spain’s fund industry has seen its assets under management (AUM) increase to €226.3bn through August, the highest level since March 2008.
AUM increased last month by €1.7bn, which represents a 0.8% improvement from the previous month, according to the latest data from asset manager Imantia Capital.
Net inflows in August, a month with little commercial activity, totalled €1.28bn.
By categories of funds, there were no large variations observed from July. Total industry AUM increased by 1.9% compared with the end of June, when AUM decreased by 2.3% to €217.35bn, according to data from industry association Inverco.
The most notable change is the €800m drawn by the Caixabank Rentas Euribor fund, after adding €1.6bn in July, just one month after its launch.
Following this year’s trend, buy-and-hold funds and fixed income funds recorded the highest growth.