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SpanishAssets of Romanian pension funds up 26% YOY at end-June
The total assets managed by private pension fund managers (mandatory and voluntary) reached RON 57.43 billion (EUR 12.13 billion) at the end of June, up almost 26% year-on-year, according to data released by the Financial Supervisory Authority (ASF).
The ratio of private pensions assets to GDP was 5.80% at the end of June, up from 5.22% at the end of last year.
“Private pension funds are important institutional investors in the economy, and the investments they made on the local capital market, together with other institutional investors, have contributed to the promotion of the Bucharest Stock Exchange to emerging market by FTSE Russell,” said ASF Vice-President Dan Armeanu.
Most of the pension money under private administration are placed in mandatory pension funds (Pillar 2), namely RON 55.14 bln (EUR 11.64 bln) at the end of June 2019. There were 7.34 million contributors to mandatory private pension funds, with an average account value of little over EUR 1,600.
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