RAIFFEISEN Asset Management started selling voluntary pensions
RAIFFEISEN Asset Management (RAM), the most recent new entry on the voluntary private pension market (pillar III) in Romania, started to sell these products and has already collected the first contributions from the participants to the fund, RAIFFEISEN Accumulation, according to data published by the company. Thus, the number of funds active on this market is now eight, with four more voluntary pension funds pending authorization at CSSPP.
According to the data published by RAM today, the fund collected the first contributions and started to calculate the value of the fund unit. In an interview for the www.privatepensions.ro portal, immediately after the authorization of the fund, Mihail ION, CEO of RAM, stated that the company's target on the voluntary pension market on medium and long term is 10% in market share, similar to the share of the RAIFFEISEN bank in the banking sector. The official estimations of CSSPP indicate that the number of funds on the voluntary pension market is likely to reach 12 by the end of this year, with 200,000 participants and net assets of 25 million euros.
