Spanish asset management industry body Inverco reports that assets under management (AUM) of Spanish funds amounted to some €272.37bn, up by 1.2% month-on-month.
Global equity funds topped the list increasing their AUM by €1.3bn in April and by €2.46bn from January to the date. Global funds, in second place, rose by €1.23bn (a 15.3% increase for the year), followed by Spanish equity funds growing by €1.47bn in the first four months of 2018.
Conversely, passive funds decreased the most in the month, down by €386m, followed by guaranteed funds and absolute return funds, down by €315m and €42m respectively.
Spanish funds received €864m of net inflows in April and some €9.69bn in the first four months of the year, a €2.12bn increase compared to the same period a year earlier.
Global funds, holding a first position, received €807m of net inflows in April, amounting to almost €5.57bn in 2018. Global equity funds received some €202m of net new money in April, and Spanish equity funds saw €1.23bn of net new money during the first four months of the year.
Passive and guaranteed funds lost €463m and €113m in net redemptions respectively.