The assets under management of pension schemes in Spain fell by 11.55 per cent in the first three quarters of 2022, according to Spanish platform VDOS.

In Q1 to Q3, assets fell by €9.65bn to €73.87bn at the end of September.

VDOS stated that the decrease was primarily driven by the negative performance of investment portfolios, which declined by €9.57bn, offset slightly by net reimbursements of €80m.

Corporate credit societies recorded the highest net deposits, with €160m, followed by international groups with €155m.

In percentage terms, all types of entities registered decreases over the first three quarters, with corporate credit societies scoring highest with -8.31 per cent.

Banks maintained their majority market share position with 79.29 per cent, followed by credit cooperatives and independent groups, with 5.69 per cent and 5.5 per cent respectively.

BBVA was the entity with the largest net deposits, at €177m, followed by Allianz (€103m) and Caja Rural (€89m).

In terms of profitability, the main managers were negative in the first three quarters, with BBVA Pensiones performing best with -8.73 per cent.

Among independent managers, Cobas Pensiones performed the best with -1.08 per cent.

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