The saver in funds in Spain is distinguished by a moderate risk profile, with less than 30,000 euros invested in this type of product and an average tenure of more than three years, according to the "VII Study on the vision of participants regarding investment funds and their managers," presented by the Observatorio Inverco and prepared by Front Query.
Almost half of fund participants (49%) aspire to achieve good returns by accepting a limited risk of loss, 37% define themselves as "conservative" --the same percentage as two years ago-- and 14% are considered to have a "dynamic" profile, one percentage point more than the previous year.
Even so, the proportion of dynamic investors has retreated from the 2022 peak (17%), in a scenario conditioned by the increase in interest rates.
By generations, the weight of dynamic profiles increases by six points among the 'centennials', reaching 22%, while the conservative profile gains ground among those over 77 years old, where it already represents the majority (61%), compared with the 48% recorded two years earlier.
More than half of the 'baby boomers' (54%) and seven out of ten participants over 77 years old (71%) have accumulated more than 30,000 euros in funds, in contrast with the 14% of the 'centennials' who reach that level.
By type of asset, equities remain the preferred option (31%), three points less than in 2024, ahead of mixed, global, and absolute return funds (19%), and guaranteed funds or target return funds (18%).
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The report reflects that 46% of investors channel their money through a discretionary management contract or advisory, a percentage that rises to 58% among the 'baby boomers', while 48% invest directly in funds. Nearly three out of four participants (74%) concentrate their funds in a single entity.
In addition, 71% of those surveyed contracted their funds with advice, although most (59%) do so without explicitly paying for that service, compared with 12% that do pay for it.
In this area, 13% of participants opt to delegate portfolio management and 17% make decisions independently, without advice. This proportion rises to almost one in three among dynamic profiles (32%), compared with 18% of the moderates and 10% of the conservatives.
On the other hand, 47% of investors get their information mainly through a personal adviser, five points more than two years ago, followed by the fund’s specific documentation (22%) and the websites of specialized media (13%).
At the time of contracting, almost four out of every ten holders (37%) formalize the transaction in person at their financial institution, two points less than in 2024, while slightly more than three out of every ten (31%) use their manager’s website or app.
Online fund investment platforms have gained prominence and already reach 15%, compared with 12% two years ago, while 14% choose to subscribe to these products through their personal adviser.