Mutual Funds: Assets under management rise 3.7%, reaching more than 31 billion soles

Mutual Funds: Assets under management rise 3.7%, reaching more than 31 billion soles
  •  The average ticket per shareholder reaches S/ 71,630, while the number of shareholders fell by almost 4%.


Lima, May 2019.- During the first four months of 2019, the size of assets under management of the mutual funds industry rose 3,7% in comparison to last year, reaching 31 billion soles. The average ticket per shareholder also grew 5.0% during the year. However, Fondos SURA revealed that the number of shareholders decreased 3.8%, losing more than seventeen thousand shareholders in the last twelve months. 

José Block, Fixed-Income Vice President at SURA, explained that the number is owed to the fall in the performance of the funds in which there has been an investment, which leads to a market leakage. Moreover, he indicated that even though there has been a decrease in the number of shareholders, the growth of the assets is explained by the stable behavior of international financial markets.

“As we head to April 2019, we can see that the evolution of the assets under management presents a positive variation of up to 17.3%, in the case of funds; and 10.1% in international funds, explained by a stabilization of the volatility in international funds and positive rates in dollar funds”, indicated Block. 

Also, Block indicated that in the last year, 5 new funds in US dollars were created, reaching a total of 132 funds in said currency; while one of the funds in Peruvian soles was closed, making 51 funds in that currency. “Five years ago, the offer was leveled 50/50, but in the last years the tendency is to invest in dollar funds that allow to invest in international funds”, Block finalized. 

Stock Exchange Agent - SURA

For his part, Miguel Pancorvo, general manager at SAB SURA, indicated that between January and April 2019, the amounts negotiated in the flows reached 10 billion soles. “If we examine an outlook with the actual negotiation rate, the Lima Stock Exchange would suffer a fall of 25% at the end of the year”, he pointed out. 

The commercial war between the United States and China has influenced the outlooks of emerging markets, “the conservative profile of the Peruvian investor and the size of our Stock are factors that make it a sensitive spot for the changes that take place in international markets”, indicated Pancorvo. Roberto Melzi, Investment Vice President at AFP Integra, pointed out that “even though the volatility of the last days will continue for the next few weeks, the scenario is much more encouraging than that of 2018”.