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Allianz-Tiriac pensions switch to profit

Allianz-Tiriac, which is the 2nd biggest player on the compulsory private pensions market, managed to switch the basic unit to profit, increasing thus to five the number of company's pension funds posting positive yields, from a total of 14 on the market.

The unit value of the net assets of the Allianz pension funds increased by 1.5 percent in a single week, having slightly exceeded the profitability threshold: 10,008 on July 10, which means an increase by 0.008 percent vs. May 20. Allianz reduced its share portfolio down to 9.55 percent of the total in end-June, vs. 20.14 percent in end-May. Moreover, 4.1 percent of the funds were invested in corporate bonds, while the rest of the money was put in bank deposits. The other funds on profit, according to the data reported between July 4 and 10, were ING, with 3.9 percent, BT Aegon, with 1.5 percent and AIG, OTP respectively, with 0.2 percent each. The remaining 9 funds record drops in assets, with the most severe such drop having been reported on July 4 by the Aviva, minus 2.591 percent, and by the Romanian Commercial Bank (BCR), minus 3.667 percent. All the 14 pension funds are managing, for now, only two monthly transfers from participants, which means that the developments so far, both positive and negative, will have a smaller impact on the total unit assets. Moreover, most of the funds reduced their investment on the capital market, as a result of the massive drops in the first month, focusing more on the most secure investments, in banking deposits and government bonds. Sursa: http://www.rompress.ro

Tags: percent profit allianz funds bcr ing otp

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