Investment funds have achieved a slight increase in assets in October of 1.576 billion euros, which represents 0.33% more, and places the total volume managed at 482.128 billion euros, according to the latest data released by Vdos.
This growth in assets is explained by net subscriptions amounting to 1.108 billion euros, to which is added the positive effect of the performance of the portfolios, calculated at 467 million euros.
Banking groups have again concentrated the largest share of net inflows, with 617 million euros, far ahead of independent groups, which total 335 million, and of cooperative credit societies, with 186 million.
If analyzed in relative terms, independent groups are the ones that have recorded the greatest increase in assets in October, with 1.50%. They are followed by cooperative credit societies, which increase their volume by 0.55%, while banking entities do so by 0.23%.
By volume managed, the banks remain in the lead with 357.608 billion euros and a market share of 74.17%, ahead of independent and international groups, which reach 9% and 7.92%, respectively.
CaixaBank retains the leadership as the main domestic entity by assets under management, with 111.167 billion euros and a 23.06% share. Next is Santander, with 70.308 billion euros and 13.58% of the total, and BBVA, with 63.968 billion euros and a share of 13.27%.
Profitability of asset managers and categories
In the profitability section, Abanca Gestión de Activos tops the list of the main asset managers by assets, with a gain of 0.77%, followed by Fineco (0.28%) and Ibercaja Gestión (0.23%).
Among independent firms, Azvalor Asset Management stands out, achieving a weighted average return of 6.85%, ahead of Brightgate Capital (6.69%) and Anta Asset Management (3.97%).
By Vdos categories, international health equities have been the most profitable in October, with an advance of 9.74%, followed by infrastructure equities (7.92%) and the absolute return category with very low volatility (6.80%).
The largest net subscriptions have been concentrated in the category of "euro public debt at short term", with €1,201 million, followed by "At maturity: without guarantee" and "global public debt", with €956 and €501 million, respectively.
On the other side, the category of "euro plus money market" has recorded net redemptions worth €1,032 million.