Spanish asset management industry body Inverco reports that assets under management (AUM) of Spanish funds have risen by €17.7bn over the seven first months of the year, amounting to €253.14bn as of the end of July 2017.
The figure is up 0.7% month-on-month and gets close to the historic record high of €261bn AUM reached in May 2007.
After this last increase, the industry has chained 13 months of growth. However, it is still far away of hitting the record reached between December 2012 and May 2015 with 30 consecutive months of inflows.
Inverco’s report also reflects positive data with regards to the volume of net subscriptions. In July, net new money poured into Spanish funds amounted to €1bn.
Spanish funds have boarded €13.35bn of net inflows over the first seven months of the year, a €8.65bn rise year-on-year.