FMA Report for Q4 2020 on Austrian Pensionskassen: assets managed increase slightly, positive investment performance

The total assets managed by Austrian Pensionskassen (pension companies) stood at EUR 25.5 billion at the end of the 1st quarter of 2021, an increase of 2.1% compared with the previous quarter. During the reporting period, the number of beneficiaries (entitled and recipients) stood at approx. 998,000 (0.3%). Of these, around 120,000 persons, or 12%, drew a pension from the Pensionskassen system. The investment performance that is calculated by the Oesterreichische Kontrollbank (OeKB) on a quarterly basis stood in the 1st quarter of 2021 at 2%, with multi-employer Pensionskassen (2%) performing better than single-employer Pensionskassen (1.3%). On average over the last three years the performance was 3.9%, over the last five years 4.2%, and for the last ten years 4.2%. A total of eight Pensionskassen were active in the Austrian market, of which five were multi-employer ones and three single-employer ones. These findings emerged from the 'Q1 2021 Quarterly Report for Pensionskassen' that was published today by the Austrian Financial Market Authority (FMA).

Approximately 97.37% of the assets managed by the Pensionskassen were held indirectly via investment funds. With regard to the different investment categories, the managed assets were predominantly invested in equities (38.59%) and debt securities (34.93%). The remainder was spreading between balances held at banks 7.01%, real estate 5.43%, loans and credits 0.81%, and other assets 13.23%. 30.02% of the investment volume is held - after hedges - in foreign currencies.

The full quarterly report can be found (in German only) via this link.

Klaus Grubelnik
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