Spanish fund industry AUM nudges up 0.9% in April

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The Spanish asset management industry saw its total AUM increase in April to €218bn, according to provisional data from industry association Inverco.

Total industry AUM was 0.9% up compared with the end of March, but it decreased by 0.8% since the start of the year. Thus, Spanish funds saw inflows of €1.9bn in April and outflows of €1.8bn since the beginning of 2016.

April’s performance means Spain’s fund industry is raising money again for the second consecutive month, following two months of outflows, Inverco data show.

After high volatility seen in the first two months of the year, risk aversion has pushed local investors to focus on the most conservative categories. Thus, fixed income and guaranteed funds respectively accumulated €1.6bn and €1.2bn inflows by the end of April.

However, funds with exposure to the stock exchange had outflows in all categories, particularly mixed fixed income with €2.3bn of outflows.

In April, international stock markets continued the upward trend started over the previous month. Also, the oil price hike after historical lows has allowed a more positive trend than expected in producing countries and emerging countries in general, Inverco said.