Reported by Consejeros Editorial Team
According to provisional data released this week by Inverco, the Spanish investment fund association, these funds increased their assets by €7.864 billion in May, reaching a total of €473.383 billion. Meanwhile,the average return recorded by the funds in the fifth month of the year was 1.5%, which contrasts with a monthly return of 3.3% for the Ibex 35.
According to the Inverco report, assets in May were driven both by the strong performance of the financial markets and by subscriptions during the month, according to data from the Inverco association.
Increase in assets across all categories
During the month, investment fund assets recorded an increase of €7.864 billion, (1.7% compared to the previous month), standing at €473.383 billion. So far this year, assets have accumulated an increase of €22.465 billion (5%).
During the month, 83% of the increase in asset volume was due to revaluations in portfolios driven by market effects, whilst the remaining 17% was due to new inflows recorded.
Virtually all categories saw increases in their assets, with particularly strong growth in those with greater exposure to international stock markets.
Net subscriptions of €1.318 billion
In May, investment funds recorded net subscriptions of €1.318 billion, bringing the year-to-date total to €8.193 billion.
Most categories recorded positive net inflows.
At the time of writing, investment funds have achieved an average return of 1.5% for the month, compared with the Ibex 35’s return of 3.3%. Year-to-date, fund returns stand at 3.4%. The year-on-year return stood at 7.2%.
International equities, the most profitable
Pending the incorporation of valuations from the final days of the month, all categories posted positive returns in May.
The highest returns were seen in International Equity Funds (5.1%), followed by Index Funds (3.6%) and Domestic Equity Funds (2.9%).
Mixed Fixed Income and Fixed Income Funds returned 0.7% and 0.4% respectively. For the year to date, International Equity Funds have returned 12.7%, and Domestic Equity Funds have returned almost 7%.
