Spanish asset management industry body Inverco reports that assets under management (AUM) of Spanish funds rose by €5.61bn in January, amounting to €268.46bn in assets under management as of the end of the month, up by 2.1% month-on-month.
Global equity funds led the growth increasing their AUM by €1.46bn in January, followed by mixed equity funds with nearly €1bn received. Conversely, fixed income funds and passive funds saw their AUM drop by €304m and €132m respectively.
Assets under management of Spanish funds have grown up to €146bn since the historical minimum registered in December 2012.
During the first month of 2018, Spanish funds have received €2.5bn of new inflows, up by 40% year-on-year when they amounted to €1.8bn in 2017.
Global funds topped the list registering €2.07bn of net new money in January 2018, followed by mixed funds amounting to €732m, from which €622m were poured into equity funds.
In contrast, fixed income funds and passive funds experienced the highest net redemptions, with €479m and €396m respectively.