Voluntary pension funds investing more and more on stock market

The voluntary pension funds are investing larger and larger percentages of their assets on the Bucharest Stock Exchange despite the uncertainty and the massive losses on the capital market. The four voluntary pension funds (pillar III) managed by Alllianz-Tiriac Pensii Private and ING Asigurari de Viata have invested the most on the Bucharest Stock Exchange, with the share of assets invested on the capital market thus far reaching 10-20% depending on each fund, according to the data provided by managers. The two funds managed by ING had invested almost 10% of their assets in shares by the end of February, while the funds managed by Allianz invested even more, close to 20% of their assets on the capital market. “Our investments in shares have now exceeded the minimum limits in the prospectus for both voluntary pension funds. The rest of the assets are invested in corporate bonds, government securities and bank deposits,” Dorin Boboc investment manager of Allianz-Tiriac Pensii Private told ZF. The seven voluntary pension funds on the market did not reveal their investment structure in the same manner – whereas ING, Aviva and OTP published their data for the end of February, BCR’s latest data are from January and the two funds of Allianz-Tiriac’s latest information is from end of the last year.