IDEAS home Printed from https://ideas.repec.org/p/bde/opaper/2606e.html

Current trends in performance and flows in the Spanish pension funds industry

Author

Listed:
  • Ricardo Barahona

    (BANCO DE ESPAÑA)

Abstract

This paper provides an analysis of Spanish individual pension funds’ financial performance.The evidence presented shows that, like in other investment fund markets around the world, on average individual pension funds do not provide investors with positive risk adjusted returns after subtracting fees. Nevertheless, there is evidence of fund manager skill since, on average, risk adjusted returns before fees are positive and there is persistence in the risk adjusted performance of funds. Additionally, there is evidence that Spanish households respond to fund performance by moving funds to well managed funds.

Suggested Citation

  • Ricardo Barahona, 2026. "Current trends in performance and flows in the Spanish pension funds industry," Occasional Papers 2606, Banco de España.
    • Handle: RePEc:bde:opaper:2606e
    DOI: https://doi.org/10.53479/42625
    as

    Download full text from publisher

    File URL: https://www.bde.es/f/webbe/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosOcasionales/26/Files/do2606e.pdf
    File Function: First version, March 2026
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.53479/42625?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bde:opaper:2606e. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España (email available below). General contact details of provider: https://edirc.repec.org/data/bdegves.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.