The funds on Pillar II also hiked their placements in corporate and supranational bonds, which represented a 33.3 percent at the end of last month, from 24.1 percent in December 2008.
As many as 54.8 percent of the assets on Pillar II were placed in state securities at the end of June, down from 58.2 percent in December 2008. The players also reduced bank deposits owning from 13.2 to 4 percent in the mentioned period.
Municipal bonds represented 3.6 percent of the assets invested, from 2.3 percent at the end of last year, while mutual funds reached 0.7 percent, from 0.5 percent on December 31 2008.
The Romanian pension system was reformed in May 2007. Apart from the traditionally state-collected pensions (Pillar I) and the optional private ones (Pillar III), a new type appeared, the mandatory pensions privately managed (Pillar II).
As many as 54.8 percent of the assets on Pillar II were placed in state securities at the end of June, down from 58.2 percent in December 2008. The players also reduced bank deposits owning from 13.2 to 4 percent in the mentioned period.
Municipal bonds represented 3.6 percent of the assets invested, from 2.3 percent at the end of last year, while mutual funds reached 0.7 percent, from 0.5 percent on December 31 2008.
The Romanian pension system was reformed in May 2007. Apart from the traditionally state-collected pensions (Pillar I) and the optional private ones (Pillar III), a new type appeared, the mandatory pensions privately managed (Pillar II).
