BUSINESS

Private pensions, a considerable yield in a crisis year

Private pensions are increasingly more profitable, the Romanian Association for Privately-Managed Pensions (APAPR) announces. The average investment yield of private pension funds amounted to 13.3 per cent for Pyllon II and 10.2 per cent for Pyllon III, in the first nine months of the year, according to a release by APAPR. Thus, by September 30, 2010, the assets of the pension funds for Pylon II had amounted to about RON 3.89 bln, while the funds for Pyllon III had amounted to approximately RON 300 M. The total assets of all private pension funds amount to over RON 4.18 bln, that is, the equivalent of EUR 980 M. APAPR attributes these results to the pension funds’ prudent and varied investment strategy, which allowed administrators to take advantage of the opportunities offered by the volatility of financial markets, continuing to invest carefully and profitably and consolidating the positive results they have obtained so far. (K.L.)

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