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Private pension market watchdog green lights two optional pension funds administered by BRD

The Romanian private pension market watchdog CSSPP authorized today two more optional pension funds BRD Primo and BRD Medio, administered by BRD Societate de Administrare a Fondurilor de Pensii Private SA.

The BRD Primo fund has a low risk profile and the BRD Medio fund has a medium risk profile.

A low risk fund places between 85 and 100 percent of its assets in low risk instruments, while for a medium risk fund the proportion stands at 65-85 percent and for a high risk fund at 50-65 percent of all the fund's assets.

There are now 12 funds on the optional pension market and ten authorized administrators. The system consisted at the end of April of 164,790 participants and of cumulated net assets amounting to almost 122 million lei.

The pension system in Romania was changed in May 2007 and reorganized, with a new category included - the private mandatory pensions.

 

Sursa: http://www.newsin.ro

Tags: pension brd private funds market optional

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