Investment funds with lower value in April due to the drop in investments in shares

In April 2025, the value under management of collective investment undertakings in transferable securities (UCITS) totaled 21,033.0 million euros, 41.8 million (0.2%) less than in March, reveals the Securities Market Commission.

In alternative investment funds (FIA), the monthly value under management fell 49.3% compared to the previous month, to 343.9 million euros.

The value of investments in shares fell by 39.8% in those of national issuers and by 3.9% in those of foreign issuers, compared to the previous month. As regards public debt, the value of investments rose by 17.5% in national and 0.2% in foreign.

In turn, the amount invested in bonds increased by 0.1% for those issued by national issuers and 0.7% for those issued by foreign issuers.

Galp was the security with the greatest weight in the funds' portfolios, representing 11.8% of the total invested, after a monthly increase of 3.7%. It was followed by Jerónimo Martins, whose value in the funds' portfolios increased by 7.9% and BCP, with a decrease of 2.6% compared to March.

With regard to investment in European Union securities, the most representative in the portfolios of investment funds were L'Oreal, Inditex and Siemens. Outside the European Union, Microsoft, Visa and Nestlé stood out.

In geographical terms, Germany was the main investment destination for UCITS in April, absorbing 23.7% of the funds' total investments, followed by the United States (14.1%) and Luxembourg (12.1%). Portugal absorbed 4.4% of the investment.

The management companies with the largest market shares were Caixa Gestão de Ativos (31.5%), IM Gestão de Ativos (24.3%) and Santander Asset Management (17%).

In April, the Biz Europa Valorização OIAVM/PPR fund – Open Alternative Retirement Savings Investment Fund, managed by BIZ Capital – SGOIC, began operating.