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Fonditel among winners at Spanish awards bash

SPAIN - Fonditel, the investment house that began life as the Telefonica pension fund, was among the main winners last night at the Spanish pensions industry awards on a good night for the domestic managers.

Fonditel won a total of four awards, including best individual pension plan for equities and best occupational scheme for mixed fixed income.

Bestinver Pensions also made a good showing with two prizes, best occupational scheme for mixed equities and best individual plan for mixed equities.

The awards, sponsored by Morningstar and Radio Intereconomia, were judged by a panel of pensions experts including investment consultants, Watson Wyatt and Mercer, fund managers, JP Morgan Fleming and WestAM, and Tressis, an online fund supermarket.

Speaking at the ceremony held in the Spanish stock market, Javier Dorado, head of JP Morgan Fleming Asset Management in Spain and Portugal, praised the maturity of the Spanish pensions industry.

Luis Peña, CEO of Fonditel, already had his sights on further prizes.

“We’re always delighted to win awards,” he said. “Now we’re looking forward to the IPE Awards. That’s the Champions’ League for us. We’re aiming for best pension fund overall, so I hope all the plan sponsors will vote for us.”

International providers were placed in two categories. Aviva and Nationale Nedelanden Vida came second and third for the individual plan for long term fixed income. While Deutsche Zurich Pensions was third in the award for individual plan for mixed fixed income.

By the end of the second quarter of this year the Spanish pension market had 57.5 billion euros under management, up 12.5% on last year.

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