First Quarter Brought Loss for Pension Funds

The Austrian pension funds were unable to escape the uncertainties in the international financial markets in the first quarter: They reported a loss of 0.72 percent for the first three months of the year, the Association of Pension and Provident Funds announced on Monday. However, the pension funds have a long-term performance of 5.03 percent, noted the association.

"Pension funds have a great advantage in uncertain times"

The loss at the start of the year was attributed by the association to the weakening economy in the Eurozone, the protectionist measures of the USA, and the effects of the real estate crisis in China. But: "The pension funds have a great advantage in uncertain times: They invest very long-term," said Andreas Zakostelsky, chairman of the association.

The pension funds achieved a value increase of 15.82 billion euros from 1991 to 2024. In total, the association represents around 5 million beneficiaries and entitlement holders. The pension and provident funds manage around 50 billion euros.

(APA/Red)

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