Top of returns on investment for the voluntary pension funds, one year from launch
Romania's voluntary pension funds (3rd pillar) have had quite different
returns during their first year of operation, according to some
research by www.pensiileprivate.ro, based on data by the depository
bank (BRD) and the supervisory body (CSSPP). The four 3rd pillar funds
launched in May/June last year returned between 1.4% and 11.5%,
depending on their investment and cost (fees) strategy.
The funds' performance was measured between the launch and the 2nd of June. The
biggest annual return, of 11.5%, was attained by the "ING Clasic" fund,
managed by ING Life Insurance. The second place in this ranking was
taken by the "Pensia mea" fund, managed by AVIVA Life Insurance, which
returned 4.5% against June last year. The third and fourth places were
taken by "BCR Prudent" (managed by BCR Life Insurance), with 3.1%, and
"AZT Moderato" (by ALLIANZ-TIRIAC Private Pensions), with 1.4%.
In
the meantime, other 3 funds emerged on the market, which also performed
quite differently in terms of yields. "ING Optim", the second fund by
ING Life, launched in September 2007, returned 11.4% to date. "AZT
Vivace", the second fund by ALLIANZ-TIRIAC Private Pensions, launched
in August 2007, returned 5.6%, while "OTP Strateg", managed by OTP
Garancia Insurance, had a negative return of 19% against its moment of
launch in October 2007, mainly due to fixed management costs (which
were entirely supported by the fund, and not by the fund management
company), combined with a really slow growth in managed assets.
05.07.2008
