VDOS, the financial markets data provider, reports that assets under management (AUM) of Spanish Sicavs fell by €42m over the last month, amounting to €31.72bn as of the end of July.
The figure is down 0.13% month-on-month, an decrease which arises partly from net outflows/redemptions to the tune of €70m.
The total amount of net assets managed by both funds and Sicavs reached €289bn, of which 59.67% was managed by bank entities, 25.02% by global asset managers, and 14.46% by independent asset managers.
Santander, topping the list, managed the highest amount of net assets by value, some €5bn, followed by Banca March with €3.4bn of AUM, and BBVA with €3.2bn.
With regards to the volume of net suscriptions, Banca March led the ranking with €17m of net new money in July, followed by Credit Suisse and Caixabank, with €6m and €3m respectively.
In contrast, JP Morgan Chase and Santander saw net redemptions of €27m and €21m respectively.
Torrenova de Inversiones is the Sicav that manages the highest value of net assets, €1.53bn, followed by Morinvest with €556m of AUM, and then Cartera Bellver with €553m of AUM.
Net new money poured into Torrenova de Inversiones amounted to €9m, followed by Lierde at €6m, and by Ditraes Inversiones at €5m.