At the end of the 1st Quarter of 2018 the assets managed by Austrian Pensionskassen (pension companies) stood at € 22.2 billion, a decrease of 0.7% compared to the previous quarter. The total number of beneficiaries rose by 1.2% during the 1st Quarter of 2018 to approximately 935,000 individuals, of whom approximate 10.6% drew a pension. The investment performance calculated by the Oesterreichische Kontrollbank (OeKB) stood at -1.2% during the 1st quarter; while in the last three, five and ten years average performance was +1.8%, +4.4% and +3.5% respectively. These findings have emerged from the Report on the Austrian Pensionskassen for the first quarter of 2018, which was published today by the Austrian Financial Market Authority (FMA).
At year-end 2017, 22.1% of all non-self-employed in Austria have an entitlement to a benefit from the Pensionskassen system. The assets under management of this form of company old-age provision accounted for 6.1% of Gross Domestic Product (GDP) at the reporting date.
96.4% 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 40.5% of assets, followed by equities at 31%, while balances held at credit institutions stand at 13.2%. 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 21.8% 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/
Journalists may address further enquiries to:
Klaus Grubelnik
+43/(0)1/24959-6006
+43/(0)676/88 249 516