The BCR fund took the top spot in the ranking of mandatory private pension funds with a 5.24% yield in December 31, 2014- November 20, 2015. The fund has 1.5 billion lei (EUR337.5 million) assets and it mainly invests in government paper, which accounts for 60% of its assets.
The fund invested RON306 million or 20% of its assets in stocks, as well. Its mainly owns stock in BRD, Fondul Proprietatea, Transgaz, Romgaz and Banca Transilvania, according to its half-year report. It also invested on foreign stock markets in Deutsche Bank, Raiffeisen, Polish insurer PZU and Polish bank PKO.
The BET, the main index of the Bucharest Stock Exchange, gained 2% this year, but bank shares (BRD, Banca Transilvania) rose by more than 30%.
Second leading mandatory private pension fund is Vital, managed by Aegon, whose yield was 5% this year. The fund has RON2.2 billion assets. Most of its investments were directed to government paper, which accounts for 60% of its assets. The fund invested RON373 million in local and foreign stocks, according to its half-year report. Its biggest investment is Banca Transilvania, followed by Fondul Proprietatea and OMV Petrom shares. Banca Transilvania gained 56% this year, while Petrom lost 25% and Fondul Proprietatea 9%.
The fund also invested in luxury goods companies’ stocks on international markets such as Hermes International, LVMH and Compagnie Financiere Richemont.
Third leading fund is Aripi, managed by Generali, with a 4.65% yield. The fund had RON1.9 billion assets on September 30.
At the bottom of the ranking is AZT Viitorul Tau managed by Allianz-Tiriac, with almost 3% yield in 2015. It has RON5.3 billion assets, which makes it the second largest fund on the market in this department. Its main investments by June 30 were government paper (66%). It also had RON785 million or 16% of its assets invested in stocks. Its main stock investments were Fondul Proprietatea, Banca Transilvania, Romgaz and Petrom.
Mandatory private pension funds had RON23.07 billion assets together by September 30, 29.8% than in January-September 2014. A number 6.46 million people were registered as contributing to the private pension system at the end of September 2015, 4.13% more than at the end of September 2014 and 2.65% more than in December 2014, according to the Financial Supervisory Authority.
(English version by Loredana Fratila-Cristescu)