The volume of assets in the individual pension scheme system and Voluntary Retirement Savings Providers (EPSVs) in Spain increased by 3.33 per cent in the first quarter of 2024, according to VDOS.

Individual pension plans and EPSVs recorded an increase in assets of €3,059min the first three months of the year, bringing total assets under management to €94,842m.

VDOS attributed the increase to the positive performance of the portfolios amounting to €3,471m. However, there were net repayments of €412m.

Banks maintain their dominant position with €63,681m managed and a market share of 77.74 per cent, followed by independent groups and cooperative credit societies with 6.35 per cent and 5.95 per cent, respectively. Independent groups recorded the highest percentage increase in assets with 7.51 per cent, followed by international groups with 4.12 per cent.

Caixabank is the national institution with the largest assets under management, with €24,702m and a market share of 26.05 per cent, followed by BBVA with €15,378m and Santander with €10,195m.

Among the main groups, Caixabank recorded the largest increase in assets with €753m, followed by BBVA and Renta 4 with €48,433m and €310m, respectively.

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