Spanish individual pension scheme assets rise to €75bn

The assets under management of Spanish pension schemes in the individual system increased by 1.77 per cent in October to €75.1bn, according to VDOS.

This corresponds to an increase in assets of €1.3bn during the month.

VDOS stated that the rise was mainly driven by the positive performance of the pension portfolios, which increased in value by €1.46bn, to which €160m of net reimbursements must be added.

By types of entity, banks registered the highest net deposits, with €44m.

Banks also maintained their majority position of market share, with 79.07 per cent, followed by independent groups (6.39 per cent) and insurers (5.14 per cent).

Caja Rural was the entity with the highest net deposits at €46m, followed by Ibercaja (€5m) and Abanca (€4m).

Caixabank remained the organisation with the most assets managed, with €22.8bn and a share of 30.4 per cent, followed by BBVA that had €14.3bn and a share of 19 per cent, and Santander with a share of 12.75 per cent.

By type of asset, the guaranteed plans obtained the highest net deposits at €48bn, followed by monetary with €38bn.

On the other hand, the mixed plans saw the largest net payouts, with €216m.

Mixed plans maintain its majority share in the Spanish market, with €48.9bn and a share of 65.2 per cent, followed by variable income, with €12.9bn.

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