Spanish individual plans and Voluntary Retirement Savings Providers (EPSVs) have recorded an increase in assets of 5,654 million in the first nine months of the year, an increase of 6.16 per cent, according to VDOS.

This brings total assets under management at the end of September to €97,398m. VDOS attributed this to a positive return on portfolios of €5,564bn and net repayments of €743m.

Banks maintain their dominant position with €75,591m assets under management and a market share of 77.61 per cent, followed by independent groups and cooperative credit societies with 6.41 per cent and 5.98 per cent, respectively.

Independent groups recorded the highest percentage increase in assets with 11.66 per cent, followed by international groups with 7.4 per cent. Caixabank is the national entity with the largest assets under management, with €25,183m and a market share of 25.86 per cent, followed by BBVA with €17,484m and Santander with €11,072m.

Furthermore, assets under management of individual pension plans increased by 6.35 per cent in the first three quarters of the year, €5,030m more, bringing the total under management to €84,298m at
the end of September.

By type of institution, cooperative credit societies recorded the largest net deposits, with €60m. In percentage terms, independent groups recorded the largest increase in assets, with 11.47 per cent, followed by international groups (7.94 per cent) and insurance companies (7.18 per cent).

In terms of profitability, among the main fund managers, Occident Pensiones was the leader with 10.27 per cent, followed by Caja Ingenieros Vida (9.63 per cent) and Caser Pensiones (8.73 per cent).

Among the independent fund managers, Cobas Pensiones recorded the best performance so far this year, with a weighted average return of 18.39 per cent, followed by Merchbanc with 13.67 per cent and Abante Pensiones with 11.62 per cent.

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