Pension Funds in Spain, 1991-2006 (Fondos de Pensiones en España, 1991-2006)

Fernandez, Pablo; Carabias, Jose M.; de Miguel, Lucia

doi:10.2139/ssrn.989344

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Pension Funds in Spain, 1991-2006 (Fondos de Pensiones en España, 1991-2006)

15 Pages Posted: 29 May 2007

See all articles by Pablo Fernandez

Jose M. Carabias

London School of Economics & Political Science (LSE) - London School of Economics

Lucia de Miguel

University of Navarra - IESE Business School

Date Written: May 30, 2007

Abstract

During the last 5 years (2001-2006), the average return of the pension funds in Spain (2.9%) was lower than the average inflation (3.2%). Nevertheless, on December 31, 2006, 9.9 million investors in the 2,759 existing pension funds had 81 billion euros. Only 6 of the 115 equity pension funds with 5-year history outperformed the benchmark.

Note: Downloadable document is in Spanish.

Keywords: pension funds, fondos de pensiones, fondos de inversion, INVERCO, rentabilidad para los partícipes, benchmark

JEL Classification: G12, G31, M21

Suggested Citation: Suggested Citation

Fernandez, Pablo and Carabias, Jose M. and de Miguel, Lucia, Pension Funds in Spain, 1991-2006 (Fondos de Pensiones en España, 1991-2006) (May 30, 2007). Available at SSRN: https://ssrn.com/abstract=989344 or http://dx.doi.org/10.2139/ssrn.989344