“Although we are talking about a very short period after launch, the results are still relevant, considering the difficult period in which they were registered. On the back of the economic and financial crisis, private pension funds are among the few institutions in Romania that performed well and functioned correctly,” said Crinu Andanut, President of the Romanian Pension Funds’ Association.
According to data provided by the Private Pension System Surveillance Commission (CSSPP), the 13 mandatory private pension funds (Pillar II), active in the first six months, posted a profit of RON 80 mln (some €19 mln). The fund administered by ING registered the highest profit, of almost RON 33 mln (€7.8 mln), followed by the fund managed by Allianz, with a profit of over RON 22 mln (€5.2 mln).
The result registered by the two funds is directly proportional with the number of participants. At the end of June, the client portfolios of the two funds made up nearly 60 percent of the contributors to the mandatory private pension system.
