Although global markets have been marked by turbulence this year, Colombian pension funds posted double-digit returns during the first quarter. That is the picture reflected in figures recently published by the pension fund managers’ trade association, Asofondos.
In a statement, the organization—which represents the AFPs Colfondos, Porvenir, Protección, and Skandia—reported that pension fund assets closed March 2025 with a total value of 467.7 trillion Colombian pesos (about USD 109.89 billion). This represents 11% growth compared to the 421.3 trillion pesos (USD 99 billion) reported in March 2024.
“This growth reflects not only returns (which totaled 38 trillion pesos over the past 12 months) but also that contributions exceeded withdrawals by 8 trillion pesos,” said Andrés Velasco, president of Asofondos, in the release.
The association also highlighted the performance of pension savings. Between January and March, returns reached 250 billion pesos (approximately USD 59 million).
“This means that, had there been no additional contributions or withdrawals, the fund would still have grown by 250 billion pesos,” the executive explained.
Velasco emphasized that these results come amid a backdrop of uncertainty.
“So far, 2025 has been—and will continue to be—a very volatile, uncertain, and challenging year for financial and capital markets,” he warned.
In this context, the economist stressed the importance of portfolio diversification in investment management.
“In the first quarter, we saw strong gains on the Colombian Stock Exchange, as well as in other Latin American and European markets, while U.S. stock indexes saw declines. Not putting all our eggs in one basket allowed for a consolidated positive result.”
