The value of assets managed by mandatory private pension funds,pillar II, reached 4.15bn RON (967m euros) in late November, only3% up from the previous month, according to the data provided bythe Private Pension System Supervision Commission (CSSPP).
Thus, reaching the 1bn-euro mark in terms of assets by yearend,which the entire market had expected, is still uncertain as the sumof contributions transferred from the state budget, plus the yieldsgenerated from investments must hit 33m euros in December. InNovember, the value of assets rose by 30m euros.
"I had expected the 1bn-euro mark to be reached by yearend.However, the situation is on edge after November data reporting.Should December be a typical month, I do not believe we will hitthis threshold, but we may have an atypical month because there arecompanies granting the 13th salary or various bonuses and thus thevalue of collected contributions is likely to be higher," believesRadu Craciun, an investment manager with Eureko Pensii.
In late November, mandatory funds had 5.1 million participants, 5%more than at the end of 2009.
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