Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Private pension becomes biggest segment of non-bank financial sector in RO

The private pensions sector has become the segment of Romania's non-banking financial market with the largest capitalization, around 7% of GDP, Nicu Marcu, president of the Financial Supervision Authority (ASF) commented.

He praised the sector's dynamics, which he attributed to the sound institutional framework.

Boasting total assets of about RON 73 billion (nearly EUR 15 bln) as of October 2020, the private pension funds have surpassed the open investment fund segment (OPCs), which mainly includes the mutual funds.

The net assets managed by the private pension funds in Romania - RON 70.2 bln in Pillar II funds and RON 2.7 billion in Pillar III - as of the end of October 2020, hit 7.0% of the GDP, according to the latest data released by ASF and the statistics office INS.

This is more than double compared to the level measured in 2014.

"I said, at the beginning of my term, that the private pension sector is the best regulated sector. Since their launch, the assets of private pension funds have increased exponentially, we can say at this moment that the growth rate of the assets of private pension funds has reached 19%," said Nicu Marcu, quoted by Ziarul Financiar.

The official data reveals a slightly lower growth rate of the net assets under the management of the private pension managers, 17% year-on-year for Pillar II, and 12% year-on-year for Pillar III.

These growth rates sum up the effects of new contributions and the rise in the fund units' net asset value (the yield of the funds).

ASF reports average yields of 4.3% year-on-year, as of October, for the Pillar II funds and 3.5-4.0% yields for Pillar III funds.

The Pillar III funds have constantly performed weaker compared to the Pillar II funds in Romania.

(Photo: Adobe Stock)

andrei@romania-insider.com

Normal
Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Private pension becomes biggest segment of non-bank financial sector in RO

The private pensions sector has become the segment of Romania's non-banking financial market with the largest capitalization, around 7% of GDP, Nicu Marcu, president of the Financial Supervision Authority (ASF) commented.

He praised the sector's dynamics, which he attributed to the sound institutional framework.

Boasting total assets of about RON 73 billion (nearly EUR 15 bln) as of October 2020, the private pension funds have surpassed the open investment fund segment (OPCs), which mainly includes the mutual funds.

The net assets managed by the private pension funds in Romania - RON 70.2 bln in Pillar II funds and RON 2.7 billion in Pillar III - as of the end of October 2020, hit 7.0% of the GDP, according to the latest data released by ASF and the statistics office INS.

This is more than double compared to the level measured in 2014.

"I said, at the beginning of my term, that the private pension sector is the best regulated sector. Since their launch, the assets of private pension funds have increased exponentially, we can say at this moment that the growth rate of the assets of private pension funds has reached 19%," said Nicu Marcu, quoted by Ziarul Financiar.

The official data reveals a slightly lower growth rate of the net assets under the management of the private pension managers, 17% year-on-year for Pillar II, and 12% year-on-year for Pillar III.

These growth rates sum up the effects of new contributions and the rise in the fund units' net asset value (the yield of the funds).

ASF reports average yields of 4.3% year-on-year, as of October, for the Pillar II funds and 3.5-4.0% yields for Pillar III funds.

The Pillar III funds have constantly performed weaker compared to the Pillar II funds in Romania.

(Photo: Adobe Stock)

andrei@romania-insider.com

Normal
 

facebooktwitterlinkedin

10

Romania Insider Free Newsletters