Spanish asset management industry body Inverco reports that assets under management (AUM) of Spanish funds have risen by €22bn over the nine first months of the year, amounting to €257.17bn as of the end of October 2017.
The figure is up 0.5% month-on-month – the same monthly increase experienced in September – adding €1.21bn from September.
According Inverco, some 60% of this growth arises from net suscriptions, while the remaining 40% is due to markets’ performances.
With regards to the funds’ profitability, a return of 0.13% was recorded in October, taking the annual return accumulated so far this year to 2.31%. In this sense, Inverco highlighted that equity markets had a positive behaviour and the main stock indices experienced increases considering how turbulent was October, marked mainly by the gradual withdrawal of the monetary stimulus from ECB and the growing tensions between Catalonia and the Spanish central government.”