Assets of Spanish short-term bond funds went up by €1.1bn in May, according to data from asset manager Imantia Capital.
This is the largest increase of the month, followed by equity funds having faced a rise in assets of €970m.
The growth in short-term bond funds is linked to net inflows, while the growth in equity funds is due to a revaluation of assets as only €220m out of €970m increase in equity funds come from net inflows.
In May, the increase in AUM of Spain’s top ten asset managers has reached €2.9bn, with Banco Sabadell leading the race.
Banco Sabadell has faced a €970m rise in AUM primarily driven by assets’ growth in its fixed income funds assets (+85%).
According to recent figures from industry association Inverco, the Spanish asset management industry saw its total AUM increase by €1.3bn to €219bn in May.
Total industry AUM were up 0.6% compared with the end of April, but decreased by 0.4% since the start of the year.
Spanish funds inflows in May were positive for the third consecutive month, totaling €892m.