Spanish pension funds have had negative returns of 0.4% in June, mainly caused by losses in non-European equities. Despite the fallen return this month, the year to date return for Spanish funds is 1.0%, according to data by Mercer.

The negative performance in June was attributed to the fall in fixed interest and equities. Fixed interest and European equities returns both fell 0.3%, while non-European equities returns were down 2.1%. However, the estimated return for Spanish funds in the last 12 months is 5.6%.

Mercer has based these data on its Pension Investment Performance Service, which it has been developing in the Spanish market since 1997. The most representative pension funds and pension fund managers in Spain are included, making the sample representative of more than 50% of occupational pension funds assets.

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