Assets under management for international fund managers in Spain have seen a significant increase, reaching 276 billion euros in March. This is a considerable jump of 11,000 million euros from the beginning of the year. The increase 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 looking to invest abroad in Spain are increasingly opting for ETFs or passive management vehicles that replicate an index. In fact, at the end of March, over 35% of all assets were invested in ETFs, totaling nearly 76,000 million euros. Equities remain popular but fixed income has gained traction since central banks intervened two years ago and now represents just over 26% of total assets.
BlackRock continues to lead the way among top fund managers in Spain with assets totaling 46,955 million euros mainly through its iShares range of ETFs. Amundi is in second place with over 31,618 million euros in assets and JP Morgan holds third place with more than 24,000 million euros under management. Together these three managers control nearly 40% of the total assets invested in foreign firms in Spain.
DWS from Deutsche Bank is fourth place with almost 20,000 million euros and a group comprising Fidelity International, Morgan Stanley and Pictet each hold around 9,000 million euros respectively are also notable fund managers in Spain. The landscape of international fund management continues to evolve as investors seek diverse options for their portfolios.
Overall international fund managers are seeing an increase