Spanish funds’ assets under management grew by some €1.94bn in July, amounting to around €274bn over the first seven months of the year, Inverco reports.
The figure registered in July is up by 0.7% compared to the previous month.
Spanish funds recorded €713m of net subscriptions in July, gathering €12bn of net new money so far this year.
As per funds’ categories, global funds topped the list receiving €819m of net new money in July and accumulating €8.3bn so far in 2018. In second position, monetary funds received €418m followed by equity funds gathering some €390m of net new money.
Conversely, fixed income funds suffered net redemptions of €336m, followed by absolute return strategies losing €278m and by national equity strategies that saw €227m of net redemptions.