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FMA Report for Q4 2020 on Austrian Pensionskassen: assets managed increase slightly, positive investment performance

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The total assets managed by Austrian Pensionskassen (pension companies) stood at EUR 25.5 billion at the end of the 1st quarter of 2021, an increase of 2.1% compared with the previous quarter. During the reporting period, the number of beneficiaries (entitled and recipients) stood at approx. 998,000 (0.3%). Of these, around 120,000 persons, or 12%, drew a pension from the Pensionskassen system. The investment performance that is calculated by the Oesterreichische Kontrollbank (OeKB) on a quarterly basis stood in the 1st quarter of 2021 at 2%, with multi-employer Pensionskassen (2%) performing better than single-employer Pensionskassen (1.3%). On average over the last three years the performance was 3.9%, over the last five years 4.2%, and for the last ten years 4.2%. A total of eight Pensionskassen were active in the Austrian market, of which five were multi-employer ones and three single-employer ones. These findings emerged from the “Q1 2021 Quarterly Report for Pensionskassen” that was published today by the Austrian Financial Market Authority (FMA).

Approximately 97.37% of the assets managed by the Pensionskassen were held indirectly via investment funds. With regard to the different investment categories, the managed assets were predominantly invested in equities (38.59%) and debt securities (34.93%). The remainder was spreading between balances held at banks 7.01%, real estate 5.43%, loans and credits 0.81%, and other assets 13.23%. 30.02% of the investment volume is held – after hedges – in foreign currencies.

The full quarterly report can be found (in German only) via this link.

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Klaus Grubelnik
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