Marfin seeks buyer for pension fund

Marfin, the smallest mandatory pension fund on the market, held by Greek group Marfin-Egnatia, intends to sell its portfolio of clients, and has already approached several other funds, market sources have told ZF. Marfin managed to attract merely 178 clients after the four-month campaign to join a privately managed pension fund, which ended mid-January, and was allocated 194 clients after the lottery. The fund is the fourth mandatory pension fund manager that has decided to sell its client portfolio, after Prima Pensie, Zepter and OTP. Marfin’s management told ZF that it is currently examining its options regarding the future of the fund. “We have invited three pension fund managers over for talks. We want to see if they will negotiate with us. Anyway, we are examining our options on the fund’s future. In September, at the beginning of the mandatory pension campaign, Marfin’s management estimated it would reach a 10% market share in the coming three to five years. However, after the four-month campaign, the fund’s market share stood at just 0.0046%.