Less than half of the private mandatory pension funds in Romania see positive yields until July 31

Publish date: 11-08-2008
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Only six of the 14 private mandatory pension funds on the Romanian market registered positive yields until the end of July, with the largest Dutch insurer ING in the lead, according to data from the market watchdog.

ING saw the highest return calculated based on the unitary value of the net asset of +6.027 percent after almost three months of investments. It was followed by BT Aegon with a net gain of 2.082 percent, AIG 0.835 percent and Generali 0.797 percent, the market supervisor CSSPP announced.

OTP and Allianz-Tiriac witnessed a slightly positive return on investment, while the other funds - Interamerican, Omniasig, Aviva, Bancpost, KD, Prima Pensie, BRD and BCR - reported negative returns, with Bancpost, the lowest of -1.694 percent.

These funds had placed by the end of June more than 164 million lei (87.6 percent of their assets) into state securities and bank deposits, low-risk investments, after a 3.35 percent drop of portfolio in only one month, CSSPP also announced.

Investments on the capital market reduced in June to 6.18 percent from 9.53 percent in the previous month.

The first payments of 88.19 million lei to the mandatory private pension funds, for March, were transferred on May 20.


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