FMA Report for Q2 2020 on Austrian Pensionskassen: change in trend following COVID-19 turbulence – assets managed + 5.9%, investment performance +6.0%
At the end of the 2nd Quarter of 2020 the assets managed by Austrian Pensionskassen (pension companies) stood at € 23.2 billion, an increase of +5.9% compared to the previous quarter. Consequently the massive decrease as a result of the capital market turbulence as a result of the outbreak of the Covid-19 pandemic during the 1st Quarter of 2020 of €2.4 billion (-9.8%) compared with year-end 2019 more than half (+€1.3 bn) was able to be recovered again. However, due to the difficult prevailing conditions in the employment market, during the 2nd quarter, the number of beneficiaries (entitled and recipients) however fell by 0.1% to around 985,000, with around 11.5% of them already receiving a pension benefit. The investment performance calculated by the Oesterreichische Kontrollbank (OeKB) for the first six months of 2020 stood at -4.6% due to the impact of the Covid-19 pandemic, although performance of 6.0% during the 2nd quarter partially offset the performance of – 10% during the 1st quarter. On average for the last three, five and ten years the performance stands at +1.2%, +1.9% and +3.6% respectively. These findings have emerged from the Report on the Austrian Pensionskassen for the second quarter of 2020, which was published today by the Austrian Financial Market Authority (FMA).
97.2% of the assets of the Pensionskassen are held indirectly via investment funds. Broken down into investment classes, debt securities have the largest share of the portfolio, amount to 41.4% of assets, followed by equities at 33.8%, while balances held at credit institutions stand at 7.9%. The remainder is in the form of real estate, loans and credits as well as other assets. After having taken currency hedge transactions into account, around 29.8% of the assets were invested in foreign currencies.
The full quarterly report can be found (in German only) on the FMA website.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-6006, or +43/(0)676/88 249 516