Individual Spanish pension plan assets rose by €142m in the first half of 2025, marking a 0.17 per cent increase, according to recent data from VDOS.

This brings total assets under management to approximately €86bn. The growth was mainly driven by positive portfolio performance, which contributed €530m, partially offset by net redemptions of €388m.

Among pension fund providers, international groups recorded the highest net inflows with €6m. In percentage terms, credit cooperatives posted the largest asset growth at 1.53 per cent, followed by independent groups with 1.09 per cent.

Banks maintained their dominance with a 77.02 per cent market share, followed by independent groups and insurance companies with 7.72 per cent and 5.61 per cent, respectively.

Caixabank remained the market leader, managing €24bn in pension assets with a 28.04 per cent market share. BBVA followed with €16bn and an 18.84 per cent share, while Santander held 12.24 per cent.

By asset type, fixed income plans recorded the highest net inflows at €277m, with money market plans adding €83m. In contrast, equity plans suffered the largest net outflows of €301m.

Mixed asset plans continued to dominate the Spanish market, managing €53.7bn and holding a 62.75 per cent market share, followed by equity plans with €17.3bn.

Among leading fund managers, Cajamar Vida delivered a return of 3.72 per cent, followed by Santa Lucía Pensiones at 2.99 per cent and RGA Rural Pensiones at 2.79 per cent.

Independent managers also performed well, with Cobas Pensiones achieving the highest weighted average return of 7.94 per cent for the semester, followed by GVC Gaesco Pensiones at 5.36 per cent and Bestinver Pensiones at 2.27 per cent.

By fund category, Spanish equity plans registered the highest returns at 22.01 per cent, followed by European equity plans with 8.31 per cent and Eurozone equity plans at 7.93 per cent. US equity plans declined by 4.36 per cent.

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