The assets under management of Spanish individual pension plans increased by 1.43 per cent in January, equivalent to €1,223m, according to VDOS.

The increase in assets was mainly due to the positive performance of portfolios, VDOS said, with the euro-equity category rising by 7.01 per cent over the month. Investments increased by €1,607m over the month, which was slightly offset by net redemptions of €383m.

The increase brings total assets managed to €86,621m at the end of the month.

Data from VDOS revealed that independent groups have recorded the greatest increase in assets over the month, at 2.77 per cent, followed by international groups at 1.95 per cent.

However, banks maintain their majority position in market share with 77.21 per cent, followed by independent groups and insurance companies with 7.75 per cent and 5.58 per cent, respectively.

In terms of profitability, among the main management companies, Caser Pensiones was the best performer with 2.96 per cent, followed by Caja Ingenieros Vida with 2.51 per cent and Occident Pensiones with 2.5 per cent.

Among independent managers, Abante Pensiones recorded the best performance during the month, with a weighted average return of 3.24 per cent, followed by Bestinver Pensiones and Renta 4 Pensiones, with 3.12 per cent and 2.85 per cent, respectively.

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