As of March, international fund managers in Spain have seen a significant increase in assets under management, reaching 276 billion euros. This represents an impressive increase of 11,000 million euros compared to the beginning of the year. The rise can be attributed to the profitability of portfolios due to market growth as well as a higher influx of funds compared to outflows in recent months.
Investors in Spain who opt for foreign management firms are increasingly turning towards ETFs or passive management vehicles that replicate an index. In fact, at the end of March, nearly 76,000 million euros were invested in ETFs, representing 35.4% of all assets under management. While equities remain popular, fixed income has gained traction since central banks intervened two years ago and now accounts for just over 26% of total assets.
The top three fund managers in Spain are BlackRock, Amundi and JP Morgan with assets totaling 46,955 million euros, 31,618 million euros and over 24,000 million euros respectively. Together they control nearly 40% of the total assets invested in foreign firms in Spain. DWS from Deutsche Bank is fourth with almost 20,000 million euros and a group comprising Fidelity International, Morgan Stanley and Pictet each with around 9,000 million euros round out the top five fund managers in Spain.
The landscape of international fund management continues to evolve as investors seek diverse options for their portfolios. With so many players on board it’s clear that there is no clear leader but rather a fragmented market where each player has its own unique strengths and weaknesses.
