Analysis of the equity change and market share of ETFs and index funds during this period, as well as the business of key managers.
In Spain, the pie of passive management has grown. If five years ago, the volume of assets held by international managers in passive management instruments – ETFs and index funds – reached 31,800 million euros, today this wealth has more than doubled to 72,200 million. Data from the broadcasting barometer. FundsPeopleHe In absolute terms, they show a growth of just over 40,000 million in the last five years in the passive management industry in Spain. In percent, 127%.
Five years ago, passive management’s weight on the total business of the foreign fund industry in Spain was 15.7%, today it is 22.2%. So: 6.5 points more.
Black Rockthrough iSharescontinues to assert its leadership in the indexing business in the Spanish market. Today it has 27.6 billion passive management products. This represents 38.2% of the pie. In terms of equity, the growth experienced by the American firm at the local level over the last five years has been 11,000 million. However, its market share fell by 13.7 percentage points from 51.9% to 38.2%, which is explained by the emergence of more players in the passive management business.
New players stand out in Spain with passive management jobs
Among these actors are organizations that did not have assets in ETFs five years ago and have significant volumes today. This situation investment (currently has 6,000 million assets in its ETFs), State Street Global Advisors (with a volume reaching 5,700 million in Spain) or UBS Asset Managementfive years ago it had no assets under passive management, and today it manages about 2,500 million.
Organizations that traditionally have a more active management oriented business also open a small gap. but they are launching passive product lines where they manage to seize assets. companies like Illustrated AMWith just over 600 million in the index fund business, and to a lesser extent, Fidelity International, JPMorgan AM Y BNP Paribas AM. All showed a strong commitment to the passive leg with the appointment of local sales managers.
Amundi and Lyxor integration
deserves special mention amundi. The French manager currently has 16,300 million assets in ETFs and index funds. A figure that contrasts with the barely 3,000 he had five years ago. Today, Amundi’s market share in the passive management business in Spain is 22.5%, placing it in second place in the ranking.
behind him dwsWith just over 7,000 million and almost 10% of the pie, it had 2,800 million five years ago and a market share of 8.8%. There is also strong growth pioneerDchanneled through both index funds and ETFs. If five years ago the asset had 2,500 million in Spain, today this legacy is close to 6,000. The equivalent piece of the pie today is 8.1 percent, compared to 7.7 percent five years ago.
NOTE: All data reflected in this article is from the barometer published monthly by the journal FundsPeople, comparing current volumes with those of October 2017.
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