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Austrian Pensionskassen produce wide-ranging returns at end of Q3

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AUSTRIA - Austrian Pensionskassen returned 4.1% on average for the first nine months of the year, with results differing significantly between schemes, the Austrian supervisory body FMA said.

Over the first three quarters of 2010, the worst performing of the 17 Austrian Pensionskassen returned only 0.3%, while the best-performing achieved 7.1%, according to official statistics.

There was almost no difference in the performance by company and multi-employer schemes over that period.

The average asset allocation remained virtually unchanged quarter-on-quarter, with 38.5% in government bonds, 16.9% in corporate bonds, 28.4% in equities, 6.3% in cash, 3.4% in real estate and the rest in other investments.

In total, €14.45bn are currently being managed by Pensionskassen, 2.1% more than at the end of Q2.

The insurance-based Betriebliche Kollektivversicherung, another part of the second pillar, is managing €436.1m (+1.7%).
 
That brings the second pillar assets in total to 5% of the Austrian GDP, with around one fifths of the Austrian workforce being covered by a Pensionskasse.

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