Inverco foresees 6.6% rise in Spanish fund industry assets in 2020
2020 will be a moderate year for the Spanish fund industry, foresees Inverco, the local asset management association. Assets under management should soar 6.6% (around +€18bn) to reach €295bn at the end of 2020 while the average fund return, all asset classes together, is expected to reach 3%. Inverco also believes that assets of foreign investment funds in Spain will rise by 6.8% to €208bn. However, Spanish Sicavs are set for a 0.5% drop in assets to €29.3bn at the end of the year.