SPAIN - The total size of Spanish mutual fund assets rose by 1.46% to 171.8 billion euros in October, says research firm Lipper. Lipper says the growth reflects a “U-turn” in stock markets.

Fund analysis company Lipper said that a total of 75% of the funds that are registered for sale in Spain posted a positive return in the month of October. This contrasts with the year to date figure, where only 25% of funds showed a positive return.

“The U-turn experienced by the stock market indices in October helped the mutual fund market to show a better tone,” the report states.

The more than 7,000 funds on sale in Spain rose 3.35% in the month, on average, Lipper reported. This compares to a 15.80% fall for the year to date.

The 2,493 Spanish-based funds saw an average rise of 2.86%. This compares to a fall of 8.74% in the year to date.