Business · Markets · 5 hrs ago
Spain’s new investment account may qualify fewer than 10% of domestic funds
Spain has approved a new savings and investment account intended to encourage people to invest for the long term.
It is designed to move some of the more than €1 trillion that households hold in deposits that pay no interest into investments linked to Europe.
People will be able to invest up to €150,000 in eligible assets, including shares, investment funds and exchange-traded funds.
Banks and securities firms can offer the accounts, but investment fund managers cannot.
Funds must meet strict rules, including investing at least 70% of their value in assets linked to the European Economic Area.
Market estimates say fewer than 10% of Spanish funds qualify, and those funds represent less than 5% of total fund assets.
Fund industry group Inverco supports efforts to promote long-term investment but says the rules are too restrictive and proposes allowing funds to meet them gradually.
Spain’s proposed investment account may include fewer than 10% of domestic investment funds, according to market calculations cited by Expansión.
Less than 5% of the funds’ total assets meet the proposal’s requirements.
The account would allow investments of up to 150,000 euros in assets that invest in Europe.
At least 70% of a portfolio must be invested in assets linked to the European Economic Area, with additional requirements for equities.
Inverco supports measures to encourage long-term investment but says the eligibility rules are too demanding and asset managers should be allowed to provide the account.
- Who
- Spain’s Ministry of Economy approved the proposal; banks and Spanish investment firms could offer the account.
- What
- A proposed savings and investment account may qualify fewer than 10% of domestic investment funds.
- When
- The Ministry of Economy gave the proposal the green light the week before the article was published on October 11, 2026.
- Where
- Spain.
- Why
- The account is intended to encourage long-term investment and move household savings from unremunerated deposits into investments.
Spain’s Ministry of Economy
Inverco
Fund eligibility
Spain’s Ministry of Economy
The proposal requires at least 70% of a portfolio to be invested in assets linked to the European Economic Area, alongside equity requirements.
Inverco
Inverco says the eligibility requirements are too demanding and excessively focused on equities.
Account providers
Spain’s Ministry of Economy
The proposal excludes collective investment and closed-ended investment fund managers from providing the account.
Inverco
Inverco identifies their exclusion as a limitation.
initiative that encourages long-term investment
the exclusion of management companies among its providers and eligibility requirements for funds that are very demanding and excessively focused on equities
Spain’s Ministry of Economy gave the investment account proposal the green light.
Market calculations cited by Expansión put the share of domestic funds meeting the requirements at less than 10%.
- Maximum investment
- 150,000 euros
- Portfolio allocation
- At least 70% in assets linked to the European Economic Area
- Equity allocation
- At least 50% in equities
- Eligible domestic funds
- Fewer than 10%, or around 130 vehicles
- Eligible fund assets
- Less than 5% of total assets
Sources
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