Spain. The Asset Management Review
The asset management industry in Spain is relatively young. Nevertheless, during approximately three decades of activity, it has undergone a remarkable process of development to become a highly professional and efficient market.
The downturn in the financial markets following the global credit crisis (and, in particular, the European sovereign debt crisis) in 2007 and 2008 severely affected Spanish collective investment schemes and pension funds and, generally, the asset management industry in Spain. The recovery started in 2013 and continued until the end of 2019. At the macroeconomic level, Spain’s GDP grew during the second decade of the 2000s, driven primarily by a slight increase in private consumption and, above all, investment.