3rd Annual Conference of the ICADE Asset Management Chair
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José María Marcos, the CNMV's Director General of Entities, reviewed the challenges facing asset management at ICADE: assets of Spanish funds and private equity vehicles total EUR 561 billion, around 33% of GDP. He stressed Spanish savers' risk aversion and the CNMV's particular supervisory focus on the sale of private equity to retail investors.
Key points
- Equities account for only 16% of Spanish funds, compared with 47% worldwide.
- Private equity vehicles exceed 1,600, 2.5 times as many as less than five years ago.
- Cites as challenges the Savings and Investments Union, investor confidence, technology and tokenisation, simplification and more integrated EU supervision.
Who is affected
Fund and private equity managers, distributors and retail investors.
Plain-language version
A senior official at the CNMV, Spain's market watchdog, says Spanish funds manage 561 billion euros, about 33% of GDP. Only 16% of that money is in shares, against 47% worldwide, because Spanish savers avoid risk. The CNMV is keeping a close eye on private equity being sold to small investors.
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