Private pension funds have constantly boosted their capitalmarket exposure in the past year, with their investments in listedstock now standing at 283m RON (67m euros), 16 times more than ayear ago. Thus, in late January, mandatory pension funds (pillarII) had investments worth 253m RON in shares, while voluntary oneshad 30m RON, according to the data provided by the Private PensionSystem Supervision Commission. The weight of stock investments intotal assets stands at 10% in the case of mandatory funds, comparedwith 1.5% a year ago, and at 14% in the case of voluntary ones,compared with 4.7% in January 2009. "Looking at the maximumpercentage pension funds can invest in listed stock, of 30-50% inassets, depending on the risk profile, we can see there's much roomfor growth. 2010 will also be a year of cautious capital marketexposure growth," stated Simona Ditescu, general manager of BCRprivate pension manager. As for the stocks funds invest in, Ditescusays they are mainly blue chips, with high liquidity.
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