The total assets managed by Austrian Pensionskassen (pension companies) stood at EUR 24.84 billion at the end of the 1st quarter of 2023, an increase by € 492 million or +2.02% compared with the previous quarter. Thereof € 2.13 billion were managed by single-employer Pensionskassen, and € 22.71 billion by multi-employer ones. The Pensionskassen are slowly starting to recover the losses they sustained as a consequence of capital market turbulence caused by the Russian invasion against Ukraine; however they are still € 2.14 billion or 7.93% below the record level seen at the end of 2021. During the reporting period there were approx. 1.05 million beneficiaries (entitled and recipients) (+0.96% compared to the previous quarter). Around 138,000 or 13.10% of those individuals drew a pension from this form of company old-age provision. Therefore around one quarter of non-self-employed (23.20%) have this kind of company old-age provision, with the total assets managed corresponding to approx. 5.44% of the gross domestic product (GDP) of Austria. In the first quarter of 2023, the investment performance that is calculated by the Oesterreichische Kontrollbank (OeKB) on a quarterly basis stood at +1.66%, with multi-employer Pensionskassen (+1.79%) performing better than single-employer Pensionskassen (+0.25%). On average over the last three years the performance was +4.02%, over the last five years +1.66%, and for the last ten years +3.02%. 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 2023 Quarterly Report for Pensionskassen” that was published today by the Austrian Financial Market Authority (FMA).<\/p>
Approximately 95.53% 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 (37.24%) and debt securities (32.73%). The remainder was spread between balances held at banks (7.25%), real estate (7.01%), loans and credits (2.62%), and other assets (13.15%). After hedges, 29.29% of the investment volume is held in foreign currencies.<\/p>
The full report can be found on the FMA website (in German only) at:<\/p>