Romania's voluntary pension funds: more and more prudent with their investments
ROMANIA. Romania's voluntary private pension funds (3rd pillar
pensions) became more and more prudent with their investments - in
August, stock market exposure dropped to a 6 month low, to 6.9% (as
against 7.9% in July). Thus, the aggregate portfolio of voluntary
pension funds in Romania, at the end of August, was the following:
70.8% in government securities and municipal bonds (compared to 71.4%
in July), 11.1% in corporate bonds (6.5 % In July), 10.1% in bank
deposits (13.5% in July), 6.9% in shares (7.9% in July) and 1.1% in
mutual funds (0.7% in July ). Romania's voluntry pension funds managed
assets of EUR 15 mln. at the end of August, with prospects to reach EUR
25 mln. until the end of the year.
