Private pensions reach EUR 824 mln in net assets, average yield of 18.9%

Private pension funds active in Romania have reached 5.2 million users and net assets of EUR 824 million at the end of April this year, according to data from the pension fund administrators. The net profit of those funds was of RON 511 million (around EUR 124 million) between May 2008 and April 2010. The fund's average yearly yield was of 18.9 percent in the first two years after launching, with a lower yield in the first four months of this year, of 11.25 percent on the mandatory pensions segment . The mandatory private pensions segment had 5.03 million users at the end of April, up 114,000 users compared to the end of last year. The Romanian Pensions' Fund Association expects a total number of 5.3 million participants in the private pensions system by the end of the year in Romania, with net assets of around EUR 1.17 billion, according to Crinu Andanut, head of the association. ING had the biggest number of participants, 1.6 million and net assets of RON 1.2 billion (around EUR 300 million), followed by Allianz Tiriac, with 1.2 million users and RON 738 million in net assets (around EUR 180 million). Generali had 479,000 users at the end of April and Alico, 313,000, followed by Aviva, with 369,000 and BCR, with 313,000 users but smaller assets than Alico.