Spanish asset management industry body Inverco reports that assets under management (AUM) of Spanish funds have risen by €25.28bn over the eleven first months of the year, almost tripling the €10.69bn increase that was reached in the same period of 2016.
As of the end of November 2017, assets under management amounted to €260.70bn, up 0.6% month-on-month and very close to the historical record the industry reached in May 2007, when it came to manage €261.07bn in assets.
According Inverco, national funds have grown continuously for the past five years – thanks partly to the push of net suscriptions – which accumulated €116bn of net inflows between 2013 and 2017.
November 2017 saw fund companies in Spain record net inflows of €2.64bn, which took year-to-date net suscriptions to some €19.43bn. That was up €7.14bn compared to the same period a year earlier.