Wednesday, August 5, 2020

Investment funds attract 614 million euros in June | Funds and Plans

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The money that came out in terror from the investment funds in March returns strongly. During the month of June, the funds marketed in Spain registered net fund-raising worth 614 million euros, which has considerably reduced net redemptions in the toughest months of the Covid-19 stock crisis.

According to preliminary data disclosed by Inverco, the association of investment fund managers, the volume of assets of investment funds increased by 3,467 million euros during June, so that, with provisional data, the total equity was at the end of the month it stood at 260,997 million euros, 1.3% more than in the previous month.

82% of the month’s growth is explained by the appreciation of the Stock Market and the bonds in which the funds invest. And the rest, for the arrival of new money.

June has been the second consecutive month with net subscriptions. In April, money went back into the funds, but it was only 62 million euros. It was a complete change in trend, after outflows worth 5,571 million euros were registered in March. These two months of money inflows have reduced the annual balance of net reimbursements to just 1,614 million euros.


Evolution by categories

Despite the good performance of the equity markets, especially during the first two weeks of June, the fund categories with the highest exposure to equities were affected by the investor’s investment mood, who preferred to adjust their investment preferences towards categories with less volatility.

Meanwhile, the fixed income funds registered significant net subscriptions: 725 million euros, almost entirely focused on long-term fixed income.

Conversely, the funds with the highest redemptions produced in June correspond to monetary funds (78 million euros), although in the accumulated index for the year they continue to present accumulated net subscriptions amounting to 165 million euros.


Cost effectiveness

The good performance of the financial markets has partially corrected the heavy losses accumulated by many funds in the previous months. Together, these products have a negative profitability of -4% in 2020. In the case of the Spanish Stock Exchange funds, the falls reached -22%.

During the month of June, all the categories of funds have been revalued. In total, they have rented 1.29%. Those that have recovered the most have been the Spanish Stock Market, which have risen 3.64%.

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