Thus, NN pension funds have reached an investment of nearly RON935 million in Banca Transilvania. Therefore, some 2 million future pensioners hold 10% in Banca Transilvania.
“Banca Transilvania informs its investors that, on 03.04.2020, it was notified that NN Group NV together with Fondul de Pensii Facultative NN Activ (managed by the optional pension fund administrator NN Asigurari de Viata SA), Fondul de Pensii Facultative NN Optim (managed by the optional pension fund administrator NN Asigurari de Viata SA), Fondul de Pensii Administrat Privat NN (managed by NN Pensii SAFPAP SA) as well as NN Investment Partners BV have surpassed the 10% holding level, owning at the present 10.06% of the capital of BT”, as per the announcement.
The largest stock market investors, namely, Pillar II mandatory private pension funds, have become even larger since February 2020, along with Romania’s Financial Supervisory Authority (ASF) enforcing the new regulations increasing to 15% from 10% the ownership threshold held by pensions funds in companies.
In the first half of 2019, the seven private pension funds in Romania reached investments of RON9.9 billion (EUR2.1 billion) in the shares of companies listed on the Bucharest Stock Exchange, up 34% from end-2018, according to ZF calculations based on half-yearly financial reports of pension funds.