Los inversores se lanzan a por fondos de Bolsa internacional

Investors are flocking to international stock funds in August, as data from Inverco shows. Spanish savers are changing course as stock markets rise in 2026. Conservative investment funds lose their appeal while variable income, especially international, gains weight in portfolios, according to Inverco's August figures. International variable income funds have captured €4.710 million by August, the largest inflow of all categories.

Conversely, money market funds see outflows of €1.160 million, while index-linked funds lose €747 million. The biggest decline comes from guaranteed funds, which recorded repayments of €1.818 million for the year. This movement does not mean investors have abandoned prudence entirely. In fact, fixed-income funds still dominate as a destination for savings, with €4.938 million of net subscriptions in the first eight months of the year, with €305 million added in August.

The trend points to a diversification of preferences rather than a general shift away from conservative assets. The evolution of fund assets confirms this trend. In August, funds grew their assets by €4.336 million, a 0.9%, reaching €482.406 million. Since January, assets have increased by €31.295 million, a 6.9%. Much of this growth comes from market revaluations, with 69% of the August increase explained by portfolio value changes, and the remaining 31% from new money inflows, according to the industry association.

International variable income is the biggest beneficiary, with its asset base rising by €1.747 million in August, fueled by both positive market movements and subscriptions. Over the year, this category's asset base rises by 22.1% to surpass €81.290 million. The return on investment explains much of this appeal. International variable income funds accumulate a 14.56% gain for 2026, significantly above the average fund return of 4.39%.

National variable income funds also exceed 14%, with a 14.03% advance, while index-linked funds accumulate a 14.54%. New money is also directing itself towards this category. In August, international variable income funds attracted €373 million, with particular intensity in those with greater exposure to emerging markets. With entries accumulated since January, they have surpassed €4.710 million.

Global funds are another growing product. In August, they saw €215 million in inflows, while mixed funds added another €172 million. Target return and money market funds also received money in August, though the latter's inflows in August do not offset the outflows accumulated throughout the year. Guaranteed funds show the weakest behavior.

In August, they suffered outflows of nearly €29 million, linked to maturing investments, and have a negative balance of nearly €1.818 million for the year. Their asset base has also shrunk, in a context of declining appeal compared to alternatives capable of offering greater participation in market rises. Overall, funds recorded €1.347 million in August net subscriptions, bringing the annual total to €12.307 million.

The money flow remains clearly positive, but its distribution reveals a significant change: savings continue to flow into funds, but they find more attractive products linked to the evolution of stock markets. The international stock market becomes one of the main destinations for money, while some traditionally defensive products lose ground.