Mandatory pension funds (Pillar II) and facultative ones (Pillar III) last year had average yields of 10.5 pc and 9.96 pc respectively, with total net assets of RON 10.23 bln (EUR 2.3 bln) in December 2012, the Romanian Association for Privately Managed Pension Funds (APAPR) informs in a press release. “In 2012 too, private pension funds had remarkable investment yields, achieving a sound real-positive performance despite the unfavorable economic environment,” according to data released by the association. The assets of the nine mandatory pension funds advanced by 50 pc in 2012, to RON 9.64 bln (EUR 2.18 bln). The total number of participants in Pillar II pension funds reached 5.76 million, approximately 245,000 more than at the beginning of 2012. In the Pillar III, the net assets administered by the 11 funds advanced by 37 pc to almost RON 600 M (EUR 135 M), a sum that can be found in the accounts of 290,000 clients, about 30,000 more than at the beginning of last year. “For the mandatory pension funds, this investment performance translates into net gains for participants that exceed RON 1.44 bln, added to raw contributions worth RON 8.19 paid to the system, during the entire duration of Pillar II,” adds the release. The president of APAPR, Marius Popescu said that year 2012 was difficult, but successful for the private pensions system.