Net assets of Macedonian mandatory pension funds up 28.8% y/y at end-2011.

By bne IntelliNews January 11, 2012
The net assets of Macedonias two mandatory private pension funds rose by 28.8% on the year to MKD 16.02bn (EUR 260.5mn) in December, slowing down from 28.9% y/y in November, according to data of the pension supervision body MAPAS. In monthly terms, the combined net assets of the two funds increased by 3.3% in December, after rising by 1.6% a month earlier. The number of the funds' members rose by 11.1% y/y to 296,631, decelerating from 11.5% y/y in November. The two mandatory funds are NLB Penziski Fond and KB Prv Otvoren Zadolzitelen Penziski Fond. At end-2011, KB Prv was the larger of the two, both in terms of members (156,412) and net assets (MKD 8.58bn). There are also two private voluntary pension funds in Macedonia - NLB Penzija Plus and KB Prv Otvoren Dobrovolen Penziski Fond. At end-November, they had a total of 12,198 members (up 7.8% on the month) and combined net assets of MKD 111.6mn (up 13.2% on the month).
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