The Spanish fund industry has posted a 6.6% growth in assets under management (AUM) in 2016 over the previous year, according to data from Spain’s industry body Inverco.
Total industry AUM stood at €234.4bn by the end of December, which represents an increase of €3.8bn from November.
Last month, global equity funds recorded an AUM increase of €945.8m to €20.7bn, which is 4.8% up from the previous month. Spanish equity funds also saw a growth in AUM, up by 7.5% or €380m to €5.4bn. These increases were mostly linked to the funds’s returns, as net inflows remained practically unchanged.
In 2016, passive funds had the largest increase in AUM, up by 35.5% or €6.2bn to €23.9bn. This was followed by money market funds, which registered an increase of 18.5% or €1.5bn to €9.6bn.
Fixed income funds, totaling €60bn, saw its AUM decrease by €498m in December, which is 0.8% down from the previous month.
In 2016, mixed equities saw the largest decrease in AUM, down by €1bn or 6.1% to €20bn.
Spain’s asset management industry ended the the year with net inflows totalling €13.5bn, and only January and February registered outflows throughout the year. The number of fund investors went up to 8.2 million in 2016, an increase of 545,000 participants over 2015.