The assets under management of Spanish pension schemes in the individual pension system increased by 3.71 per cent in H1 2023, data from VDOS has shown.

This corresponds to a €2.75bn rise in assets during the first half of this year, reaching €76.8bn at the end of June 2023.

The increase was primarily driven by positive investment performance, with portfolio value rising by €3.8bn during the first half of the year.

However, pension schemes also paid out €1.05bn in pensions during the half year, partially offsetting the asset increase.

By types of entity, banks registered the highest net deposits with €47m.

Banks maintained their majority market share position with 78.2 per cent, followed by independent groups (6.12 per cent) and insurers (5.94 per cent).

In percentage terms, independent groups registered the greatest increase in assets with 10 per cent, followed by banks (6 per cent).

Caixabank remained the leader by assets managed with €23.4bn and a share of 26.3 per cent, while BBVA managed €15.9bn and Santander managed €10.4bn.

Among the main groups, BBVA registered the greatest increase in assets with €582m, followed by Kutxabank (€342m) and Caixabank (€340m).

In terms of profitability among the main managers, Caser Pensiones was top with 8.26 per cent, followed by GCO Gestora de Pensiones (8.1 per cent) and Bankinter Seguros de Vida (6.53 per cent).

Among the independent managers, Bestinver Pensiones registered the best weighted average return of 14.8 per cent, followed by Renta 4 Pensiones with 9.55 per cent and Abante Pensiones with 8.52 per cent.

Share Story: