Optional pension funds forego deposits

Thus, the ratio of deposits in terms of total placements made by optional pension funds dropped 15 percent by the end of the first quarter, from 70 percent at the end of 2007. Meanwhile, the ratio of state bonds rose to 72 percent, from 21 percent at the end of 2007, according to a report by the Private Pension System Supervisory Commission (CSSPP). 

Furthermore, by the end of Q1 some 5.3 percent of funds were placed in corporate bonds, compared to 1 percent in 2007. Those bonds were acquired on both the Bucharest Stock Exchange (BVB) and European regulated markets. 

The ratio of shares also increased in Q1 2008, to 7 percent, from 1 percent at the end of 2007. 

Seven funds are currently operating on the local optional private pension market, with net assets totaling €29.2 million and 82,337 clients.