Individual Spanish pension plan assets increased by approximately €327m in August, according to the latest statistics from VDOS.

Expressed as a percentage, assets under management of individual pension plans increased by 0.39 per cent in August, bringing the total AUM to €83,975m at the end of the month.

This increase was mainly due to the positive performance of portfolios of approximately €281m and net fundraising of around €45m. By asset classes, Spanish equities posted the best performance with 2.31 per cent, followed by euro equities (1.54 per cent) and international equities Europe (1.18 per cent). At the other end of the spectrum, emerging Asia equity plans had a negative return of 0.83 per cent.

By type of institution, banks recorded the largest net deposits of €21m, followed by independent groups with €11m. In percentage terms, independent groups achieved the largest increase in assets over the month, with 0.70 per cent, followed by cooperative credit societies with 0.46 per cent.

Banks maintain their majority market share position with 77.25 per cent, followed by independent groups and insurance companies with 7.78 per cent and 5.50 per cent, respectively.

By type of asset, fixed-income plans obtained the largest net captures of €36m, followed by money market plans with €8m. Equity plans, on the other hand, suffered the largest net redemptions of €6m. However, mixed plans maintained their majority in the Spanish market, with €52,865m and a market share of 62.95 per cent, followed by equity plans with €16,841m.

In terms of profitability, among the main fund managers by assets under management, Santa Lucia Pensiones recorded the best performance, with an increase of 0.88 per cent, followed by Bankinter Seguros de Vida and Unicorp Vida, with 0.69 per cent and 0.64 per cent, respectively.

Among the independent fund managers, Renta 4 Pensiones was the best performer in the month, with a weighted average return of 0.73 per cent, followed by Bestinver Pensiones with 0.67 per cent and GVC Gaesco Pensiones with 0.38 per cent.

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