The total value of assets managed by the Austrian Pensionskassen (pension companies) registered a quarter-on-quarter increase of 2.1%, rising to €14.45 billion, according to a report published today by the Financial Market Authority (FMA) on the performance of the Austrian Pensionskassen in Q3 2010. By way of comparison, the value of assets managed by insurance undertakings authorised to provide occupational pension group insurance in Austria increased by 1.7%, climbing to €436.1 million. Taken together, the sum of the assets managed for these two modes of old-age pension provision is equal to around 5% of the Austrian gross domestic product. The total number of beneficiaries remained almost unchanged. The current proportion of the total working population who are entitled to pensions through the Pensionskassen currently lies at around one fifth.
The investment result of the Pensionskassen, as calculated by the Oesterreichische Kontrollbank (OeKB) on the basis of guidelines and data reported by the Pensionskassen, is 4.1% for the period from the beginning of the year to 30 September 2010. Achieving investment performance of 3% in the third quarter, single-employer Pensionskassen were able to make up the difference that had been established during the second quarter by the multi-employer Pensionskassen. Due to the different performance targets and investment strategies, and sometimes high levels of volatility on the financial markets, the investment result of the individual investment and risk sharing groups as at the end of the third quarter falls within a band ranging from 0.3 to 7.1%.
Klaus Grubelnik (FMA Media Spokesperson)
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