Foreign investment funds in Spain account for total AUM of €79bn, asset management industry association Inverco has revealed.
Total flows into foreign-domiciled funds in Spain have increased of €7bn since march 2014, 9.7% up during Q2 and 21.5% since the beginning of the year.
Spanish investments into foreign-domiciled funds were divided as follows: 37.1% in fixed income; 36.8% in equities; 15.3% in balanced funds and 10.8% in ETFs and indexed funds.
However, new subscriptions in Q2 to foreign-domiciled funds showed a different distribution of investments. Total subscriptions came at €4.5bn, 30.9% of which in fixed income; 26.3% in equities; 25.5% in ETFs and indexed funds and 17.2% in balanced funds.
According to the Inverco’s report, the three biggest foreign players in Spain at the end of June 2014 were BlackRock, JP Morgan AM and M&G Investments, which respectively hold assets of some €11bn, €8bn and €6.4bn.