As at 30 September 2012, the value of assets managed by Austrian Pensionskassen totalled €16.1 billion, representing an increase of 4.2% over the previous quarter. By way of comparison, the value of assets managed by insurance undertakings authorised to provide occupational pension group insurance in Austria also increased by 4.2%, climbing to €531.9 million. In respect of investments, the average investment result for all Pensionskassen in Q3 2012 was 3.4%. A yield of 6.5% was achieved in total during the first three quarters of 2012. The news was disclosed in the Report on Q3 2012 Performance of Austrian Pensionskassen published today by the Financial Market Authority FMA.
As at the end of the third quarter, the asset allocation of the Pensionskassen is as follows: Debt securities account for the largest part of the portfolio, at 51.3%. Shares, at 28.8%, make up the second largest portion. Bank deposits and credit held at banks represent 10.4% of the portfolio. The remaining 9.5% is accounted for by real estate, loans and credit, as well as other assets.
As at 30 September 2012, Pensionskassen held almost all of their assets (94.2%) indirectly, through investment funds. The remainder of the assets, held directly, consist for the most part of loans and credit and debt securities classified as held to maturity. The Pensionskassengesetz (Pensionskasse Act) specifies a separate valuation method for such debt securities (assets classified as held to maturity are exempt from market-based valuation). This method is applied to around 4.2% of the total assets. The remaining portion of investments are valued at market prices, so that any change in value, for example in the case of debt securities, has a direct impact on the yield. About 17.6% of the assets were invested in a foreign currency (as a result of currency hedges) as at 30 September. This represents an increase of 0.4% over the previous quarter.
The total number of beneficiaries remains almost unchanged compared with the previous quarter. Currently some 808,600 individuals participate in the pension company system, of whom around 75,300 draw a pension from this form of company old-age provision.
You can find the full Quarterly Report (in German) on the FMA website at: https://www.fma.gv.at/pensionskassen/offenlegung/quartalsberichte/
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-5106
+43/(0)676/882 49 516