Net assets of Macedonian mandatory pension funds up 29.1% y/y at end-July 2012.

By bne IntelliNews August 9, 2012
The net assets of Macedonias two private mandatory pension funds increased by 29.1% y/y to MKD 19.1bn (EUR 310.5mn) at end-July, accelerating from the 28.7% annual increase recorded at end-June, according to data of the pension supervision body MAPAS. In monthly terms, the combined net assets of the two funds expanded by 2.7% at end-July after registering the same growth rate a month earlier. The number of fund members rose 10% y/y to 312,405 at end-July, slowing down from 10.8% y/y at end-June. The two mandatory funds are NLB Penziski Fond and KB Prv Otvoren Zadolzitelen Penziski Fond. At the end of July, KB Prv was the larger of the two, both in terms of members (164,506) and net assets (MKD 10.23bn). There are also two private voluntary pension funds in Macedonia - NLB Penzija Plus and KB Prv Otvoren Dobrovolen Penziski Fond. At end-July, they had a total of 13,294 members (up 0.8% on the month) and combined net assets of MKD 155.4mn (up 4.6% on the month).
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