Spain’s AUM surge: €30bn growth amid 2023 market volatility

In the midst of 2023’s market volatility, Spain’s assets under management showcased a notable €30 billion surge, revealing a resilient investment climate and consistent positive inflows.

In August 2023, the Spanish Association of Collective Investment Schemes and Pension Funds, INVERCO, unveiled an analysis of the contemporary status of assets under Management (AUM) within the investment funds sector in Spain. Their data shows that the AUM for this specific interval ascended to €336.042 billion. Remarkably, this is a change from €29.843 billion since the commencement of January of that year.

The INVERCO study, ‘Investment Funds Data August 31, 2022’, delineates a 4.6% yield over the prior eight months for investment funds. Further detailed insights reveal that the net subscriptions reached €16.000 billion within that same duration.

Zeroing in on the metrics of August, the month witnessed a contraction in assets of investment funds by €581 million. In percentage terms, this represents a 0.2% decrease. This shift was predominantly driven by the capricious nature of stock market evaluations, said INVERCO. However, inspecting the larger canvas of 2023, a trend towards growth becomes evident. Specifically, assets tethered to investment funds surged by close to €30 billion, translating to a 9.7% growth compared to the end figures of 2022. It’s noteworthy to mention the decline in August aligns with the observed downturns in the stock market during that month.

Diving deeper into INVERCO’s report, it also found funds advocating a conservative investment strategy witnessed tangible growth. Within this specific category, fixed income funds saw a notable rise, with their assets increasing by €1.126 billion. Such growth can be attributed to a synergistic effect of fresh capital influx and favourable returns from the bond market, noted INVERCO.

With respect to August’s net inflows concerning investment Funds, a positive inflow trend was sustained, tallied at €803 million. This not only exemplifies the buoyancy of the investment climate but also marks a steadfast 34-month trend of consistent net positive subscriptions. From the advent of January 2023, the net subscriptions have accumulated €15.873 billion.

In the broader global context during August, equity markets exhibited pronounced volatility. For instance, Spain’s benchmark, the IBEX-35, registered a 1.41% dip. However, its year-to-date metrics showed a growth rate of 15.52%. In parallel, certain Asian stock indices, specifically the NIKKEI and HANG SENG, portrayed declines in the same period. Regardless of these undulations, Investment Funds marked a year-to-date yield of 4.65%, said INVERCO.

Shifting the focus to collective investment institutions, there’s a detectable uptrend in collective investments, encompassing both funds and companies as distinct investment entities. From the culmination of the prior December to the present, assets in this domain swelled by €39.888 billion, reaching €608.559 billion, signalling a 7% rise from December 2022 figures.

Furthermore, active accounts affiliated with Collective Investment Institutions grew by 1.8%, found INVERCO, leading to a tally of 23,107,706 accounts by the end of August 2023.

© 2023 funds europe



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