Dear participants and beneficiaries:
Over the last few weeks you may have noticed the volatility in the value of the units of the CaixaBank Employees’ Pension Fund (PC30). This volatility reflects volatility in financial markets and in the assets in which the Fund is invested. All of this stemmed from the health crisis following the spread of COVID-19 and its side effects.
Given this particular market situation, the Monitoring Committee has stepped up its efforts to ensure that the maximum degree of supervision and monitoring of the Plan is maintained. Communication, both with our management entity and with our consultants, is being as frequent as the occasion deserves, which is much more than usual.
In these turbulent times, the Supervisory Board reiterates its belief that adequate diversification and a long-term view are the best guarantees to ensure the smooth running of the Pension Fund. Below is the equivalent annual return for contributions that would have been made in the various years of the fund’s life:
| Period | Annual return* |
|---|---|
| From the beginning | 3,41% |
| Last 15 years | 3,66% |
| Last 10 years | 4,32% |
| Last 5 years | 0,72% |
We will keep you informed of any further developments. We reiterate our willingness to answer any questions you may have. We wish a speedy recovery to those affected by the virus. Thank you for your understanding.