Zepter withdraws from private pensions market

Zepter, operating in the mandatory private pension field, is the second fund to withdraw from the market, after Marfin Fond de Pensii. The company only secured 1,649 participants, after the subscription campaign and random allocation ended. The fund decided to forego selling its subscriber portfolio, worth some €250,000. The investors lost €4 million, the minimum share capital required by law. The funds were spent entirely on advertising and operations.