Bankinter now holds over €2.0 billion of assets in pension plans.
The Bank has increased its assets by €307.5 million over the last twelve months, tantamount to growth of 18.2%.
In February, Bankinter reached total assets managed in pension funds, EPSVs (Voluntary Mutual Benefit Organisations, specific to the Basque Country) and employment pensions schemes of €2,001 million, an increase of 18.2% over the last twelve months. In absolute terms, assets increased €307.5 million during this period, with now over 112,700 participants.
These results make 2014 one of the most bank's most successful years in recent memory in terms of business acquisition and return, consolidating Bankinter's position as one of the ten financial entities with the most assets managed in pension plans.
"This strong performance is due to a number of factors, including a great effort in sales which has enabled us to increase the volume of new assets acquisitions by over 50%, as well as good work by Bankinter Asset Management, which, for yet another year has placed our pension funds in the ranking of the top three most profitable funds in Spain, with an average return of 9.65% according to VDOS Stochastics", said Ignacio Rodríguez-Conde, Director of Bancassurance at Bankinter. Looking forward to 2015, Bankinter expects to maintain these rates of growth in terms of the volume of assets managed.
Bankinter currently markets 19 individual pension funds, two funds belonging to the employment system and an EPSV with which a total of nine pension plans are registered.
The portfolio is very balanced in terms of types of funds, and has been repositioned in accordance with the investment profile of customers against a background of low interest rates. 32.4% of the portfolio is in fixed income funds, primarily short-term; 30.8% is in equity funds; 22.33% is in guaranteed fixed income funds and the remaining 14.5% is invested in mixed funds.
The increased appetite for risk among investors is prompting a transfer of assets from guaranteed funds towards mixed and equity funds, which in Bankinter Asset Management's case amount to €939 million in February 2015. Over the last twelve months, these two categories have reported growth of 54.9% and 21.9%, respectively.
| Fund Type | January 2014 | February 2015(1) | Difference (in € million) | Change (%) |
|---|---|---|---|---|
| Fixed Income | 527,0 | 647,5 | +120,5 | +22,86% |
| Equities | 505,6 | 616,6 | +111,0 | +21,95% |
| Guaranteed | 472,9 | 445,6 | -27,3 | -5,77% |
| Mixed funds | 188,1 | 291,4 | +103,3 | +54,91% |
| Total | 1.693,6 | 2.001,1 | +307,5 | +18,16% |
Figures in € million
(1) Figures as at 06/02/2015