mast image

Special Report

Impact investing

Sections

Spanish pension funds return 6.8% for 2014 – Mercer

Related images

  • Plaza de Cabildo, Spain

Tags

Related Categories

Spanish pension funds have achieved average returns on their investment portfolios of 6.8% for calendar year 2014, according to preliminary figures from Mercer.

This takes their average cumulative returns for the three years to 31 December 2014 to 8.4% per annum, and 5% per annum for the five years to the same date.

The figures, from Mercer’s Pension Investment Performance Service (PIPS), are based on a significant sample of the biggest occupational pension funds and pension fund managers in Spain, and include estimated returns for December 2014.

They are also broken down between three asset classes – fixed income, euro-zone equities and non-euro-zone equities.

<

The biggest return over 2014 in terms of asset class – 22.1% – came from non-euro-zone equities.

Mercer said there were two factors behind this: the increase in valuations in non-euro-zone stock markets, and appreciation in non-euro currencies, especially the US dollar.

Non-euro-zone equities also returned an estimated 1.4% during December for the funds in the survey.

In contrast, euro-zone equities were the asset class that performed most poorly, with a return for the year of only 4.9%, including a loss of 3% in December.

This helped drag down the average estimated return over all asset classes to -0.04% in December.

Meanwhile, the fixed income return during December was 0.5%, and 9.2% for the whole of 2014.

Mercer said the return was buoyed by the fall in interest rates in the euro-zone, and by more favourable sentiment towards Spanish fixed income, which has benefited from a further reduction in the risk premium.

Mercer has been compiling the PIPS survey since 1997.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<