Andorra la VellaThe volume of assets managed by the retirement reserve fund has suffered a slight decrease in October, the result in part of the results of the United States elections, which, as indicated in the fund’s monthly report, have “penalized equities” in the face of “a new trade war between the US and China and disappointments in the results of some companies”, which has caused equities to fall. Thus, it goes from 1,794.4 managed in September to 1,782.6 in October.
In this way, the portfolio managers highlight that “the good macroeconomic data in the US and the possibility of a victory for Donald Trump in the presidential elections, a supporter of policies that generate inflation (protectionism and tax cuts ), have caused falls in the price of fixed income” and, on the other hand, it is necessary to take into account what has been mentioned about variable income.
Despite this drop of twelve million, the FRJ portfolio accumulates a return of 5.35% this year, with a drop of 0.66% in October. The fund’s long-term cumulative return exceeds Andorran inflation, as established by the objective set by law.
In addition, the monthly report also mentions that the FRJ received new recognition, this time at an international level, having been nominated as a finalist in the Excellence & Innovation Awards 2024, given by the publication Pensions & Investments in the framework of the World Pension Summit.