Spanish fund industry receives €742m of net new money in 2019
Assets under management of investment funds in Spain have grown by €2.4bn in December to a total volume of €275.69bn at the end of the year. The figure was 7.1% up year-on-year.
According to Inverco's annual report, Spanish funds received €402m of net new money in December that raised to €742m net subscriptions for the whole year.
Both fixed income and global equity were the investment categories leading the growth in the year,with€8.13bn and €2.03bn more respectively. Mixed fixed income products followed them up by €910m yearly.
Conversely, categories like absolute return, global funds, passive strategies, and Spanish equity, lost money during the same period, with net redemptions of €2.64bn, €2.34bn, €2.17bn, and €1.6bn respectively.
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