Spain’s asset management industry saw a massive slowdown in June, when it recorded €429m net fund subscriptions against the €2.7bn of the previous month.
Asset volumes in investment funds at the end of June came at a total of €220bn, €1.1bn or 0.5% less compared with the previous month.
According to the industry association Inverco, June was the first negative month since 2012. To drive the significant monthly decrease, fixed income funds, which record a loss of €2.6bn, followed by guaranteed funds with €688m outflows and passive managed funds with -€606.8m.
June’s negative performance halts the positive trends which started in 2012 and that only in the first half of 2015 added some €25.8bn to the industry’s total assets.
The best monthly performance was recorded by mixed fixed income funds, with €1.1bn net inflows, and mixed equity funds with €748m.