Spanish funds reach €10bn inflows since 2016
Funds registered in Spain have seen €10.3bn of net inflows from January to October this year, according to data from industry body Inverco.
The Spanish fund industry has seen net inflows for the last eight months, and only in October inflows reached €2bn.
Net inflows have had a positive impact on assets under management (AUM) of Spanish funds, which hit €229.9bn in October, up by 1.3% over the previous month.
According to Inverco, a slight change towards lower risk aversion was seen in October.
Equity funds recorded net inflows of over €110m, although fixed income funds registered inflows of €575m, which confirms the Spanish investors’ preference for conservative portfolios.
The number of Spanish investors grew to 8 million by the end of October, which means an increase of 82,055 investors from September.