International fund managers in Spain continue to increase the assets they manage for their clients, reaching 276 billion euros as of last March. This, according to estimated calculations by the sector’s employers’ association, Inverco, represents an increase of 11,000 million euros only at the start of 2024.
There are two reasons behind the increase in money under management: the profitability of the portfolios they manage thanks to the rise in the stock markets or the bond market and, furthermore, because there have been more inflows than outflows of money in the last three months. . In total, the figure of net subscriptions (once refunds have been deducted) stood at 2 billion euros.
Investors who bet on foreign management firms continue to opt for ETFs or passive management, which are vehicles that are responsible for replicating an index. 35.4% of all assets were deposited in this type of products at the end of March, with nearly 76,000 million euros. The next most popular category remains equities, although fixed income, very popular since central banks came into action two summers ago, step on the heels with just over 26% of the total
Among the proper names, BlackRock continues to occupy the first position in the ranking, both for its traditional funds and, mainly, for its iShares range of ETFs. In total, it controls assets invested in Spain through its funds of 46,955 million euros. Next is the French company Amundi, with 31,618 million euros, and third position goes to JP Morgan, with more than 24,000 million euros of assets under management. Between the three managers, they accumulate almost 4 out of every 10 euros that are invested in foreign firms in our country.
The German DWS, from Deutsche Bank, occupies fourth place with almost 20,000 million euros while there is a group that is around 9,000 million euros such as Fidelity International, Morgan Stanley and Pictet.