Spanish funds have seen €1.43m in net redemptions in December, the highest monthly outflow since June 2012 when they lost €1.72m, the Spanish asset management industry body Inverco reports.
Total assets under management of Spanish funds dropped 2.4% in December compared to the previous month amounting now to €258.90bn.
Over the past twelve months, Spanish funds' net money dropped by 4.68%, the sharpest fall since Lehman Brothers' collapse in 2008, when these assets dropped by 5.59%.
Despite the recent outflows, Spanish funds have received €9.21bn in net subscriptions over the year. Global funds topped the list with over €9bn of net new money; followed by global equity funds, which saw some €4.7bn in net subscriptions.