Mandatory private pension funds had assets of RON 33.17 billion (EUR 7.3 billion) at the end of February 2017, up 30.9% over the same month last year, according to the Financial Supervisory Authority (ASF).

Government bonds had the highest share in the pension funds’ assets, amounting to RON 21.2 billion (EUR 4.6 billion), namely 64% of their combined portfolios.

Shares ranked second, with RON 6.74 billion (EUR 1.4 billion), or 20.32%, whereas bank deposits came third, with RON 2.1 billion (EUR 461 million), or 6.35% of the total assets.

The seven active funds on this pillar are Alico, Aripi (managed by Generali), AZT Viitorul Tau (managed by Allianz-Tiriac), BCR, BRD, NN, and Vital (Aegon).

Romania’s pension system currently has three pillars: the first pillar - the public pension budget, the second pillar represented by the mandatory private pension funds, and the third pillar - the optional private pension funds.

editor@romania-insider.com