A EUROMONEY SURVEY – MARCH 1996
After rapid growth of nearly 1000% from 1990 to 1994, the Spanish investment fund industry slowed in 1995 following generally poor market performance in equities, fixed income and currency. Still, the fund industry is a vibrant sector with funds accounting for 17% of GDP compared to 1.7% in 1990. Today there are over three million unit holders.
Regulations allowing investment funds in Spain date back to 1958. Although updated in 1994, the sector remained fairly undeveloped.
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