Madrid, 16 March 2017. Loreto Mutua, an independent non-profit organisation specialising in retirement savings products and ranked among the leading institutions dedicated to social welfare in Spain in terms of assets under management, has announced that its Loreto Óptima personal plan and its Plan Asociado have obtained the maximum rating for long-term products from Morningstar, a prestigious platform and digital service which specialises in financial information on funds, recognising their high return and controlled risk.
Double recognition
Moreover, both Loreto Mutua funds are in the top seven in the one-year category. Loreto Óptima, Loreto Mutua’s personal pension plan, ended the year with a return of 4.35%, also well above the market average, reaching a historical return of 5% (since 2003) and appreciating by 18.6% above inflation over the past ten years. Also worth noting are the low fees of between 0.3% and 0.5%, much lower than the market average, proving that containment and appropriateness of fees is not incompatible with efficiency.
A balance between profitability and safety
Loreto Mutua’s CEO Jon Aramburu said “It is an honour for Loreto Mutua to have obtained such recognition, and in turn, this is one of the best signs that we are on the right track, surpassing average yields, as well as those of the products we invest in. We need to make every possible effort so that people who are currently worried about the future of their pensions know that savings products like ours are on the market and can meet their future savings needs, even in a complicated context that has financial markets practically flat lining in growth terms. Our goal for 2017 is to continue growing above the market average.”
Loreto Mutua, specialisation and independence
Loreto Mutua began its activities more than 40 years ago, managing social welfare to supplement that of the state Social Security system for workers in the airline industry. Currently, in addition to the mutual fund itself, there is a Plan Asociado, the Loreto Óptima personal plan and an employment plan, Loreto Empresas, aimed at any company interested in its employees’ future savings. The organisation is among the leading financial institutions and groups dedicated to social welfare in Spain in terms of volume of assets managed – nearly €1.380 billion. In the last decade it has managed the retirement benefits of more than 10,000 people.