Portuguese AM industry representative body Associação Portuguesa de Fundos de Investimento, Pensões e Patrimónios (APFIPP) has reported that assets under management (AUM) of Portuguese investment funds rose by 1.2% last month, totalling €11.89bn.
AUM have increased by 7.2% during the first half of 2017, while the Portuguese association has recorded a 10.2% of AUM rise year-on-year.
APFIPP’s report reflects also positive data with regards to the volume of subscriptions. In June, net new money poured into Portuguese funds amounted to €531.9m, while the volume of redemptions reached €357.2m. It has resulted in a positive balance of €174.7m between inflows and outflows. Since the beginning of the year, the accumulated profit stands at €649.8m.
The Portuguese AM industry tallies 167 funds.
BPI Gestao de Activos, Caixagest and Santander AM were the three best fund sellers in June 2017 in Portugal according to APFIPP’s data.