Spanish pension funds post double‑digit gains in H1 2026

The total assets under management of Spain’s individual pension plans grew 5.49% in the first half of 2026, reaching €93.85 billion. Caixabank remained the largest manager with €26.59 billion (28.33% market share), followed by BBVA and Santander. Mixed‑type plans continued to dominate the market.

Independent managers delivered the strongest returns: Cobas Pensiones posted a weighted average return of 12.92%, Bestinver Pensiones 12.70% and Dunas Capital Pensiones 11.43%. Among the broader asset categories, emerging‑market and US equity indices also posted high performances.

BanSabadell Pensiones reported that its funds and plans placed in Inverco’s first quartile generated returns above 9%, highlighted by the BS Renta Variable plan delivering 13.95% and several mixed and lifecycle funds exceeding the 9% threshold.