“Unless there are major events to dramatically change the feeling on markets, we estimate that more than 5 percent of the AZT Viitorul Tau fund will be invested on the stock exchange by year-end,” according to the Investment Manager of Allianz-Tiriac Pensii Private fund management company, Dorin Boboc.
Speaking about the time frame by which investments on capital markets by pension funds will reach a level of up to 30 percent, the Investment Manager of Generali Fond de Pensii, Anne-Marie Mancas, said that this depends on each fund’s strategy and their forecast on the capital market evolution. For the time being, poor exposure on the capital market is due to the many guarantees that a fund manager must provide. “If one decides to have higher exposure on the stock market, this means one must agree to greater fluctuation of one’s assets, because of market volatility. And this further requires that one must make the appropriate provisions. When assets are large and the stock market exposure exceeds 10 percent, provisions can be significant, and this means very high costs for administrators,” according to the head of AIG Fond de Pensii, Mihai Coca-Cozma.
