Spanish pension fund assets declined by €815m in April, equivalent to 0.99 per cent, according to VDOS.

VDOS said the decline was due to a negative performance of the portfolios, with total assets under management standing at €81.27bn at the end of the month. The negative performance caused a reduction of €970m to the portfolio, however net receipts amounted to €154bn.

By type of institution, independent groups recorded the largest net deposits with €243m, followed by cooperative credit societies with €3m. In percentage terms,
independent groups achieved the greatest increase in assets, with 2.64 per cent.

Banks maintained their majority market share position with 77.35 per cent, followed by independent groups and insurance companies, with 7.72 per cent and 5.49 per cent, respectively.

Caixabank remains the leader in terms of assets under management, with €23.4bn and a market share of 28.79 per cent, followed by BBVA, with €15.231bn and a market share of 18.74 per cent, and Santander with 12.39 per cent.

Regarding profitability, among the main fund managers by assets under management, all were negative over the month, with Cajamar Vida showing the best performance with a decrease of 0.55 per cent.

Among the independent fund managers, Cobas Pensiones was the best performer over the month, with a weighted average return of 3.27 per cent, followed by Dunas Capital Pensiones with 0.34 per cent.

---