Spanish assets under management increased by 1.49% in the first quarter of 2012, reaching €204bn, according to data released today by Spain's fund management and pensions funds association Inverco.
As the Spanish fund industry consolidates - and parent banks merge or are taken over - there will be fewer private bank fund selectors and changes to access third-party funds.
INVERCO, the Spanish fund management and pensions body, has proposed a number of reforms to boost the sector it says is languishing.
It has not been a good year for Spain and the country’s fund managers and 2012 looks equally challenging with developments depending on factors outside the authorities’ control and on the new government’s ability to implement reforms and restore investor...
Spanish investors hope the incoming government will set to work quickly and announce what measures it will implement to help resolve the country’s economic and financial crisis.
The priority for the next government after this weekend’s general election in Spain will be to act quickly to restore investor confidence, according to Angel Martínez-Aldama, director general Inverco, the Spanish asset management and pension funds association....
The European summit took an important first step towards a solution to the eurozone crisis but much remains to be done and asset managers will be concerned about moves to value all sovereign debt to market.