The assets under management of pension schemes in the individual pension system in Spain increased by 0.16 per cent in April 2023, data from VDOS has shown.

Assets rose by €117m during the month, from around €75.8bn to approximately €76bn.

VDOS noted that the increase was driven by an increase in portfolio assets of €205m, although this was partly offset by net payouts of €88m.

By types of entity, banks registered the highest net deposits.

In percentage terms, independent groups registered the greatest increase in assets with 0.43 per cent, followed by banks (0.21 per cent) and insurance companies (0.21 per cent).

Banks maintained their majority market share position with 78 per cent, followed by independent groups (6.79 per cent) and insurers (5.6 per cent).

Allianz was the entity with the highest net deposits (€7m), followed by Kutxabank (€6m) and Banco Sabadell (€6m).

Meanwhile, Caixabank remained the leader by assets managed with €22.3bn and a share of 29.39 per cent, while BBVA managed €14.2bn and had a share of 18.75 per cent.

By type of asset, variable income plans obtained the highest net deposits with €27m, followed by fixed income with €16m, while mixed plans had the greatest net payouts, with €119m.

Mixed plans maintained their domination of the Spanish market, with €49.1bn and a market share of 66.64 per cent, followed by variable income with €13.7bn.

In terms of profitability among the main managers, GCO Gestora de Pensions was top with 0.74 per cent, followed by Bankinter Seguros de Vida (0.7 per cent) and Unicorp Vida (0.64 per cent).

Among the independent managers, Abante Pensiones registered the best weighted average return of 1.06 per cent, followed by Bestinver Pensions with 0.68 per cent and Renta 4 Pensions with 0.46 per cent.

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