The institution’s assets exceeded €1.355 billion, an increase of 8.66%.
Madrid, 25 May 2015. Loreto Mutua, a non-profit organisation and one of the ten leading institutions dedicated to social welfare in Spain in terms of assets under management, recorded a return of 6.32 % in 2014, pending approval at the General Meeting to be held in Madrid on 25 June 2015.
It also ended the year with more than €1.355 billion in assets, representing a growth of 8.66%, with more than €90 million in investment income and having allocated more than €70 million to pensioners. Since 2001, the year in which it went from collective to individual capitalisation, it has obtained an average return of 5.83%, a cumulative return of 81.66%, and growth above the CPI of 48.76%.
Jon Aramburu, CEO of Loreto Mutua, said «2014 meant a great change in the company’s business strategy, and the results achieved confirm that we got it right. We grew during the years in which the economy suffered most, with returns doubling the industry average over the last decade, paving the way for good figures now that the recession seems to be behind us. This year we face the challenge of consolidation as more and more people entrust their savings to us to top up their state pensions and maintain their standard of living after retirement.
For their part in 2014, Loreto Óptima (3.45%), the company’s personal plan, and the Plan Asociado (3.66%), which are both linked to the Fondloreto Pensiones fund, have been among the most profitable social welfare products over the last decade, surpassing the average pension plan market returns by category and by management type according to Inverco.