Will private pension assets reach the 1bn-euro mark?

The value of assets managed by mandatory private pension funds, pillar II, reached 4.15bn RON (967m euros) in late November, only 3% up from the previous month, according to the data provided by the Private Pension System Supervision Commission (CSSPP).
Thus, reaching the 1bn-euro mark in terms of assets by yearend, which the entire market had expected, is still uncertain as the sum of contributions transferred from the state budget, plus the yields generated from investments must hit 33m euros in December. In November, the value of assets rose by 30m euros.
“I had expected the 1bn-euro mark to be reached by yearend. However, the situation is on edge after November data reporting. Should December be a typical month, I do not believe we will hit this threshold, but we may have an atypical month because there are companies granting the 13th salary or various bonuses and thus the value of collected contributions is likely to be higher,” believes Radu Craciun, an investment manager with Eureko Pensii.
In late November, mandatory funds had 5.1 million participants, 5% more than at the end of 2009.