Funds have become one of the investment products that has grown the most in recent years, both due to the direct sale of guaranteed vehicles or maturing debt and due to the rise of discretionary management. But three out of four participants still do not know who really manages the funds. According to the latest study prepared by the Inverco Observatory, Only 24% of participants know that there is a professional team of managers behind it.. The majority continue to believe that they are responsible for the entity (36%), their financial advisor (14%) or the person who sold them the fund (14%). And there is still 11% who did not even know how to answer this question.
Logically, the percentage of knowledge increases according to the higher the risk profile of the participants. This way, 45% of dynamic investors know that they are professional managers who manage the funds, a proportion that is reduced to 26% within the group of moderate investors and 13% in the case of conservative investors.
These data are related to the fact that banking entities remain the main channel for the marketing and distribution of funds in Spain. In fact, four out of ten participants contract these collective investment products in person at their usual bank brancha percentage that has increased eight percentage points since the last study, carried out in 2022.
A notable fact is that despite the increase in financial advice in Spain in recent years, promoted by the financial entities themselves through explicit charging for this service, the percentage of participants who hire investment funds through their personal advisor has decreased. reduced by more than half since two years ago, going from 35% to 14% of those surveyed, according to the Inverco Observatory study.
This decline has a lot to do with the fact that discretionary portfolio management has become the main way of contracting funds for almost one in four participants, while digital platforms are gaining importance and already 12% of the participants in the study They assure that they use them to contract their investment products, taking into account that, above all, among participants with a higher risk profile they tend to use various means to contract these vehicles.
This belief that it is the banking entity that manages the funds is correlated with the fact that only 32% of participants claim to have read the information brochure of the contracted products in detail, although 51% affirm that they have skimmed it. document. Likewise, in the most dynamic profiles it increases to 44% and reduces to 26% in the most conservative ones.
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