Spanish fund industry sheds 3.7% since January

The Spanish asset management industry saw its total AUM decrease again in February, industry association Inverco has revealed.

Total industry AUM stood at €211.7bn at the end of February, -1.7% compared with the end of January and -3.7% since the start of the year.

In numbers, Spanish funds saw outflows of €3.7bn in February and €8.1bn since the start of the 2016.

Inverco attributed the negative performance to the negative trends in global equity markets.

However, Inverco, noted total funds AUM in the country have increased by €3.3bn over the past 12 months.

In percentage terms, Spanish equities had the worst performance with -8.5% result, followed by global equities with -4.8% and mixed equities with -3.7%.

In terms of monthly outflows, mixed fixed income lost €1.3bn in February, while global equities lost €887.8m and mixed equities lost €762m.

The only category that registered a positive result was monetary funds, which saw inflows of €352.4m in February.

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