Pension funds in Romania recover to a milder 3% YTD decline at end-November

The value of the net assets of the seven Romanian mandatory private pension funds (Pillar II) recovered sharply in November and posted a mild 3% negative performance at the end of the month, compared to a deeper 10% plunge shown a month earlier – according to Radu Craciun, president of pension fund managers' association APAPR and CEO of BCR Pensii.

"I would say that we end the year on a positive note. November was a truly exceptional month; I say this because, in just one month, I saw an investment performance in the range of 4.8%-6.4%, so increases across the board," Craciun said, according to Ziarul Financiar.

Official data was not reported yet, but the mutual funds with a focus on bonds recovered sharply last month, and their performance must resemble that of the pension funds that have a similar asset allocation.

The bond fund denominated by Erste Asset Management boasted a 5.1% advance in November, resulting in a thin negative -0.6% YTD performance.

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