Spanish short-term bond funds’ AUM see largest increase in May

Assets of Spanish short-term bond funds went up by €1.1bn in May, according to data from asset manager Imantia Capital.

This is the largest increase of the month, followed by equity funds having faced a rise in assets of €970m.

The growth in short-term bond funds is linked to net inflows, while the growth in equity funds is due to a revaluation of assets as only €220m out of €970m increase in equity funds come from net inflows.

In May, the increase in AUM of Spain’s top ten asset managers has reached €2.9bn, with Banco Sabadell leading the race.

Banco Sabadell has faced a €970m rise in AUM primarily driven by assets’ growth in its fixed income funds assets (+85%).

According to recent figures from industry association Inverco, the Spanish asset management industry saw its total AUM increase by €1.3bn to €219bn in May.

Total industry AUM were up 0.6% compared with the end of April, but decreased by 0.4% since the start of the year.

Spanish funds inflows in May were positive for the third consecutive month, totaling €892m.

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