Pension funds have EUR 30 million and 4 opportunities to buy T-bills in July
The Ministry of Finance will organize four bids for Romanian T-bills and T-bonds during July, with instruments to mature in 6M, 1Y, 3Y and 5Y and total issuing values of RON 3 billion (EUR 822 million). - that means a variety of opportunities for mandatory pension funds (2nd pillar) to fill their portfolios with such instruments.
This month, the Romanian pension funds will have some EUR 30 million available to bid for T-bills, or just wait for other opportunities for investment. The dates of the bids are July 9 (6M bills), July 23 (1Y), July 3 (3Y) and July 17 (5Y). So pension funds have plenty of opportunities to buy T-bills out of the primary market, to make sure they amass enough such instruments to reach the intervals in their prospectus.
The most important reason for pension funds' interest in these instruments is represented by the very high yield of the Romanian T-bills. In June, the Ministry of Finance also issued instruments with these 4 maturities and the average yields of these issues were: 10.74% for 6M and 1Y, 9.99% for 3Y and 9.45% for 5Y.
05.07.2008
