Investors don’t want to miss the opportunities that fixed income presents in a falling interest rate environment. Just look at the money that continues to flow into funds that invest in debt. In September, the run-off observed throughout the year continued and it was once again the most conservative products, due to the minority profile in Spain, which clearly attracted capital. Money inflows during the first nine months of the year are already around 18.8 billion euros, with which they have just exceeded those recorded for the whole of 2023 (That year, flows amounting to 18.362 million arrived).
Net subscriptions (money inflows minus outflows) maintained the pace between July and September, with growth compared to previous years. Over the past three months, the funds have raised 6.167 million euros, according to preliminary data released this Tuesday by Inverco, meaning this has been the best third quarter since 2016. In September, that figure stood at nearly 1.9 billion.
THE fixed income products and conservative products in general are once again the protagonists. Investors have already taken funds cigars debt of more than 15 billion euros this year, after net inflows of 1.338 million were recorded last month. In monetary terms, the figure accumulated in 2024 is around 10 billion.
The opposite happens with stock products, in which money outflows exceed inflows. The largest repayments are suffered by global fundsa category of which more than 4.8 billion have already left since January. All this despite the fact that it is precisely the vehicles that invest in stocks that make the greatest profits, thanks to the general rise in stock markets. “During the month, all investment categories recorded positive returns, with greater intensity in the national stock markets. Thus, national variable income funds recorded positive returns of 2.1% (13, 7% for the whole year), underlines Inverco. And the Ibex 35 has become the most bullish index in Europe in 2024.
With only one quarter left before the end of the year, the industry is having a good year both in terms of subscriptions and assets added thanks to the good work of the markets. The volume under management exceeds 386,000 million euroswhich represents growth of 11% compared to the end of 2023.
