Inverco warns only 4% of Spanish funds qualify for Financia Europa

Inverco, the association representing Spanish investment institutions and pension funds, has warned that only 4% of Spanish fund assets and 10% of the total number of funds currently meet the requirements for the new ‘Financia Europa’ savings and investment account.

The account, established via Royal Decree-law 29/2026 to encourage savings toward European equity, imposes strict criteria. Funds must hold at least 70% of their portfolio within the European Economic Area (EEA), with a minimum of 50% in equities and 35% specifically in EEA equities.

Inverco president Ángel Martínez-Aldama suggested that the current framework is too restrictive and proposed reforms, such as allowing fixed-income funds to participate and allowing investment funds to carry the ‘Financia Europa’ label directly. Meanwhile, the National Securities Market Commission (CNMV) is accelerating the registration process for eligible vehicles to meet a four-month deadline.