SPAIN – Spanish personal pension returns have fallen 2.91% on a one-year basis, according to Inverco, the Spanish association of institutional investors and pension funds.

It added that personal pension plan assets in Spain have risen slightly, to 26.5 billion euros as at the end of April 2003, up from 26.23 billion euros at the end of 2002. There were 5.82 million accounts at the end of April.

The best performing fixed income plan – or Renta Fija - was Banco Santander Central Hispano’s SCH Renta Fija Negocios, with a return of 9.05% over 14 years.

The best mixed stock plan with a 30%-75% stock allowance – the Renta Variable Mixta – was the Aviva’s Plusplan with a 14-year return of 8.13%.

The best mixed fixed income plan with an allowance of up to 15% in stocks – or Renta Rija Mixta I - was the Plan Estrella from Skandia, with a 9.72% return over 14 years.

The best mixed fixed income plan with a 15%-30% stocks allowance – the Renta Fija Mixta II – was Winterthur Pensiones’ Ind. Winterthur with a 9.23% return over 14 years.

The top all stock plan, with a minimum of 75% in stocks – the Renta Variable – was the Zurich Star 1 of Deutsche/Zurich with a 14-year return of 3.38%.s