BlackRock, Amundi and JP Morgan hold close to 40% of the investment of foreign funds in Spain

International investment firms in Spain are experiencing significant growth in the assets they manage for their clients, reaching a total of 276,000 million euros as of March. According to estimates by Inverco, the sector’s employers’ association, this represents an increase of 11,000 million euros since the beginning of 2024.

There are two main factors contributing to this growth. Firstly, the portfolios managed by these firms have seen increased profitability due to the upward trends in the stock and bond markets. Secondly, there have been more inflows than outflows of money in the past three months, with net subscriptions totaling 2 billion euros.

Investors who choose foreign management firms have shown a preference for ETFs or passive management, which involves replicating an index. These products accounted for 35.4% of the total assets, amounting to nearly 76,000 million euros by the end of March. Equities remain the next most popular category, followed closely by fixed income, which has gained popularity since the interventions by central banks two summers ago, representing just over 26% of the total assets.

BlackRock holds the top position in the rankings, both for its traditional funds and its iShares range of ETFs, with a total of 46,955 million euros invested in Spain. Amundi, a French company, comes in second with 31,618 million euros, and JP Morgan takes third place with over 24,000 million euros under management. These three firms alone account for almost 40% of the total assets invested in foreign firms in our country.

German DWS, a subsidiary of Deutsche Bank, claims the fourth spot with nearly 20,000 million euros, while Fidelity International, Morgan Stanley, and Pictet form a group with around 9,000 million euros each.