At the end of the 2nd Quarter of 2023 the assets managed by Austrian Pensionskassen (pension companies) stood at € 25.43 billion, a +2.38% or € 591.68 million increase compared to the previous quarter. As a result the assets under management have slowly recovered from the massive fall as a result of the capital market turbulences witnessed during the 1st half of 2022, but are nevertheless still € 1.55 billion shy of their all-time high as of year-end 2021. The number of beneficiaries (entitled and recipients) rose marginally during the 2nd quarter, by 0.15% to just over 1,053,000, of which 13.33% (approx. 140,000 persons) are already receiving a pension benefit from this form of company old-age provision. As a result, around one quarter of all non-self-employed in Austria (23.20%) have an entitlement to such a pension benefit. The investment performance calculated by the Oesterreichische Kontrollbank (OeKB) reflects the continuing challenging economic and geopolitical environment, and stood at +1.6% during the 2nd quarter, and +3.28% for the first half of 2023. On average for the last three, five and ten years, the performance stands at +2.55%, +1.96% and +3.32% respectively. These findings have emerged from the Report on the Austrian Pensionskassen for the 2nd Quarter of 2023, which was published today by the Austrian Financial Market Authority (FMA).
96.12% of the assets of the Pensionskassen are held indirectly via investment funds. Broken down into investment classes, equities have the largest share of 38.92% of assets, followed by debt securities at 33.22%, while real estate at 6.91%, balances held at credit institutions at 6.14%, loans and credits at 2.68% and other assets at 12.12%. After having taken currency hedge transactions into account, around 29.30 % of the assets were invested in foreign currencies.
The Quarterly Report can be found on the FMA website (in German only) at: https://www.fma.gv.at/pensionskassen/offenlegung/quartalsberichte/
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